InterOil Corp. (IOC) Sees Large Volume Increase
Shares of InterOil Corp. (NYSE:IOC) saw unusually-high trading volume on Friday . Approximately 443,253 shares traded hands during trading, a decline of 3% from the previous session’s volume of 459,281 shares.The stock last traded at $47.54 and had previously closed at $47.42.
IOC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of InterOil Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 18th. Raymond James Financial Inc. downgraded shares of InterOil Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 16th. Finally, Citigroup Inc. downgraded shares of InterOil Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $44.43.
The firm’s market cap is $2.37 billion. The stock has a 50-day moving average price of $44.14 and a 200-day moving average price of $33.63.
InterOil Corp. (NYSE:IOC) last released its quarterly earnings results on Friday, May 13th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.03. The firm had revenue of $921 million for the quarter, compared to the consensus estimate of $1.10 billion. The business’s revenue for the quarter was down 92.1% on a year-over-year basis. Analysts anticipate that InterOil Corp. will post ($1.12) earnings per share for the current year.
InterOil Corporation (InterOil) is an oil and gas exploration and production company. Papua New Guinea explores for oil and gas across over 4 million acres in the south of the country. The area is divided into four Petroleum Prospecting Licenses (PPLs) and two Petroleum Retention Licenses (PRLs). A feature of InterOil’s work in Papua New Guinea is PRL 15 that contains the Elk-Antelope field.
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