InterOil Corp. (IOC) Shares Up 4.7%
InterOil Corp. (NYSE:IOC)’s share price shot up 4.7% during trading on Monday . The company traded as high as $49.98 and last traded at $49.85, with a volume of 2,032,568 shares traded. The stock had previously closed at $47.61.
A number of brokerages recently commented on IOC. Zacks Investment Research downgraded shares of InterOil Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Citigroup Inc. cut shares of InterOil Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 24th. Finally, Raymond James Financial Inc. cut shares of InterOil Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $44.43.
The firm’s 50 day moving average price is $44.14 and its 200 day moving average price is $33.63. The company’s market capitalization is $2.46 billion.
InterOil Corp. (NYSE:IOC) last issued its 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 analyst estimates of $1.10 billion. The company’s quarterly revenue was down 92.1% on a year-over-year basis. Equities analysts predict that InterOil Corp. will post ($1.12) EPS 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.