InterOil Corp. (NYSE:IOC) shares saw unusually-strong trading volume on Thursday . Approximately 864,109 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 682,173 shares.The stock last traded at $48.78 and had previously closed at $48.95.

A number of research analysts have recently weighed in on IOC shares. Citigroup Inc. downgraded InterOil Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 24th. Zacks Investment Research raised InterOil Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 18th. Finally, Raymond James Financial Inc. downgraded InterOil Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $44.43.

The company has a 50 day moving average of $44.85 and a 200 day moving average of $34.13. The firm’s market cap is $2.41 billion.

InterOil Corp. (NYSE:IOC) last posted its earnings results on Friday, May 13th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.03. The business had revenue of $921 million for the quarter, compared to analysts’ expectations of $1.10 billion. The company’s revenue was down 92.1% on a year-over-year basis. On average, analysts expect that InterOil Corp. will post ($1.12) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in InterOil Corp. stock. KBC Group NV increased its position in InterOil Corp. (NYSE:IOC) by 297.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,445 shares of the company’s stock after buying an additional 28,770 shares during the period. KBC Group NV owned about 0.08% of InterOil Corp. worth $1,208,000 as of its most recent SEC filing.

InterOil Corporation (InterOil) is an oil and gas business with a sole focus on Papua New Guinea (PNG). The Company’s segments include Upstream and Corporate. The Upstream segment includes exploration, appraisal and development of hydrocarbon structures in PNG. The Corporate segment provides support to the Company’s other business segments through business development and improvement activities, general services, administration, human resources, executive management, financing and treasury, government affairs and investor relations.

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