First Business Financial Services Inc. Has $405,000 Position in InterOil Corp. (IOC)
First Business Financial Services Inc. held its stake in InterOil Corp. (NYSE:IOC) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,000 shares of the company’s stock at the end of the second quarter. First Business Financial Services Inc.’s holdings in InterOil Corp. were worth $405,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in InterOil Corp. by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 3,106,604 shares of the company’s stock worth $98,883,000 after buying an additional 34,935 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of InterOil Corp. during the first quarter worth about $11,773,000. Whitebox Advisors LLC purchased a new position in shares of InterOil Corp. during the second quarter worth about $13,391,000. Norges Bank purchased a new position in shares of InterOil Corp. during the fourth quarter worth about $7,606,000. Finally, TT International purchased a new position in shares of InterOil Corp. during the second quarter worth about $4,891,000. 48.75% of the stock is owned by hedge funds and other institutional investors.
InterOil Corp. (NYSE:IOC) traded down 0.030% during trading on Thursday, hitting $50.645. The company’s stock had a trading volume of 300,631 shares. The firm’s market cap is $2.53 billion. InterOil Corp. has a one year low of $21.18 and a one year high of $51.49. The company has a 50-day moving average of $49.51 and a 200 day moving average of $42.35.
InterOil Corp. (NYSE:IOC) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.89. The firm earned ($10.70) million during the quarter, compared to analyst estimates of $1.10 million. The business’s revenue for the quarter was down 21.3% on a year-over-year basis. On average, equities analysts forecast that InterOil Corp. will post ($1.63) earnings per share for the current year.
A number of equities analysts recently issued reports on the company. Sanford C. Bernstein lowered InterOil Corp. from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $50.00 to $52.00 in a research note on Monday, August 15th. Raymond James Financial Inc. lowered InterOil Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 16th. Zacks Investment Research lowered InterOil Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $50.00 target price on shares of InterOil Corp. in a research note on Tuesday, August 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $51.95.
About InterOil Corp.
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.
Want to see what other hedge funds are holding IOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterOil Corp. (NYSE:IOC).
Receive News & Ratings for InterOil Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterOil Corp. and related companies with MarketBeat.com's FREE daily email newsletter.