InterOil Corp. (IOC) Trading Up 4.7%
InterOil Corp. (NYSE:IOC)’s share price rose 4.7% on Monday . The stock traded as high as $49.98 and last traded at $49.85, with a volume of 2,032,568 shares trading hands. The stock had previously closed at $47.61.
IOC has been the topic of several recent analyst reports. Zacks Investment Research raised shares of InterOil Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 18th. 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. Finally, Citigroup Inc. cut shares of InterOil Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. InterOil Corp. presently has an average rating of “Buy” and a consensus target price of $44.43.
The company has a 50 day moving average price of $44.50 and a 200-day moving average price of $33.91. The company’s market cap is $2.45 billion.
InterOil Corp. (NYSE:IOC) last announced its quarterly earnings results on Friday, May 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by $0.03. The company had revenue of $921 million for the quarter, compared to the consensus estimate of $1.10 billion. The business’s revenue was down 92.1% on a year-over-year basis. Equities analysts expect that InterOil Corp. will post ($1.12) earnings per share for the current fiscal 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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