Today, InterOil Corp. (IOC) Given Average Rating of “Hold” by Analysts

Today, InterOil Corp. (IOC) Given Average Rating of “Hold” by Analysts
Shares of InterOil Corp. (NYSE:IOC) have been given an average recommendation of “Hold” by the six brokerages that are currently covering the firm. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $51.20.

Several equities research analysts recently weighed in on IOC shares. Zacks Investment Research raised InterOil Corp. from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Thursday, November 17th. Sanford C. Bernstein cut InterOil Corp. from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $50.00 to $52.00 in a research note on Monday, August 15th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $50.00 target price on shares of InterOil Corp. in a research note on Tuesday, August 2nd.

Shares of InterOil Corp. (NYSE:IOC) traded down 0.27% during midday trading on Friday, reaching $48.56. The company had a trading volume of 27,637 shares. The company’s 50-day moving average is $48.89 and its 200-day moving average is $46.56. InterOil Corp. has a 1-year low of $21.18 and a 1-year high of $51.49. The stock’s market capitalization is $2.44 billion.

InterOil Corp. (NYSE:IOC) last issued its quarterly earnings results on Monday, November 14th. The company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.14. The company earned $7.16 million during the quarter, compared to the consensus estimate of $0.60 million. The firm’s revenue for the quarter was down 39.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) earnings per share. On average, equities research analysts forecast that InterOil Corp. will post ($1.62) EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Princeton Alpha Management LP acquired a new position in shares of InterOil Corp. during the second quarter worth about $471,000. Gabelli Funds LLC acquired a new position in shares of InterOil Corp. during the second quarter worth about $1,170,000. Gabelli Securities Inc. acquired a new position in shares of InterOil Corp. during the second quarter worth about $4,581,000. Gamco Investors INC. ET AL acquired a new position in shares of InterOil Corp. during the second quarter worth about $297,000. Finally, SG Americas Securities LLC acquired a new position in shares of InterOil Corp. during the second quarter worth about $322,000. 52.63% of the stock is currently owned by hedge funds and other institutional investors.

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