Brokerages Set InterOil Corp. (IOC) Price Target at $51.20
Shares of InterOil Corp. (NYSE:IOC) have earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $51.20.
Several research analysts recently weighed in on the company. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $50.00 target price on shares of InterOil Corp. in a research report on Tuesday, August 2nd. Zacks Investment Research lowered InterOil Corp. from a “buy” rating to a “sell” rating in a research report on Tuesday, August 9th. Finally, Sanford C. Bernstein lowered 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 report on Monday, August 15th.
Shares of InterOil Corp. (NYSE:IOC) opened at 48.56 on Friday. InterOil Corp. has a one year low of $21.18 and a one year high of $51.49. The stock’s market capitalization is $2.44 billion. The firm’s 50-day moving average price is $48.78 and its 200-day moving average price is $46.70.
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 analysts’ consensus estimates of ($0.37) by $0.14. The business earned $7.16 million during the quarter, compared to the consensus estimate of $0.60 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The firm’s revenue for the quarter was down 39.0% on a year-over-year basis. Equities research analysts anticipate that InterOil Corp. will post ($1.62) EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Pacad Investment Ltd. bought a new stake in shares of InterOil Corp. during the second quarter valued at about $167,000. Texan Capital Management bought a new stake in shares of InterOil Corp. during the third quarter valued at about $226,000. Legal & General Group Plc increased its stake in shares of InterOil Corp. by 25.1% in the second quarter. Legal & General Group Plc now owns 4,489 shares of the company’s stock valued at $202,000 after buying an additional 900 shares in the last quarter. Sterneck Capital Management LLC bought a new stake in shares of InterOil Corp. during the second quarter valued at about $270,000. Finally, Gamco Investors INC. ET AL bought a new stake in shares of InterOil Corp. during the second quarter valued at about $297,000. Hedge funds and other institutional investors own 52.63% of the company’s stock.
InterOil Corp. Company Profile
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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