InterOil Corp. (IOC) Sees Large Volume Increase
Shares of InterOil Corp. (NYSE:IOC) saw an uptick in trading volume on Thursday . 542,375 shares changed hands during trading, an increase of 9% from the previous session’s volume of 498,460 shares.The stock last traded at $48.90 and had previously closed at $49.01.
Several research firms have recently commented on IOC. Sanford C. Bernstein lowered InterOil Corp. from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $50.00 to $52.00 in a research report on Monday, August 15th. Raymond James Financial Inc. lowered InterOil Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 16th. Citigroup Inc. downgraded InterOil Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 24th. Zacks Investment Research upgraded InterOil Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 18th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $50.00 price target on shares of InterOil Corp. in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. InterOil Corp. has an average rating of “Hold” and a consensus price target of $51.95.
The firm has a 50-day moving average price of $48.67 and a 200-day moving average price of $37.32. The firm’s market capitalization is $2.45 billion.
InterOil Corp. (NYSE:IOC) last issued its earnings results on Thursday, August 4th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.89. The firm had revenue of ($10.70) million for the quarter, compared to analyst estimates of $1.10 million. The company’s revenue for the quarter was down 21.3% on a year-over-year basis. Equities analysts forecast that InterOil Corp. will post ($1.75) earnings per share for the current fiscal year.
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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