InterOil Corp. (IOC) Sees Large Volume Increase
InterOil Corp. (NYSE:IOC) shares saw an uptick in trading volume on Thursday . 542,375 shares traded hands during mid-day 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 brokerages have issued reports on IOC. Zacks Investment Research raised shares of InterOil Corp. from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday, July 26th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $50.00 price target on shares of InterOil Corp. in a research note on Tuesday, August 2nd. Sanford C. Bernstein cut shares of InterOil Corp. from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $50.00 to $52.00 in a research note on Monday. Raymond James Financial Inc. cut shares of InterOil Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 16th. Finally, Citigroup Inc. cut shares of InterOil Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $51.95.
The firm’s market cap is $2.45 billion. The company has a 50 day moving average of $48.56 and a 200-day moving average of $37.17.
InterOil Corp. (NYSE:IOC) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by $0.89. The company earned ($10.70) million during the quarter, compared to analysts’ expectations of $1.10 million. The company’s revenue was down 21.3% compared to the same quarter last year. Equities research analysts anticipate 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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