Standard Life Investments LTD reduced its stake in shares of InterOil Corp. (NYSE:IOC) by 15.1% during the second quarter, Holdings Channel reports. The firm owned 725,707 shares of the company’s stock after selling 128,730 shares during the period. Standard Life Investments LTD’s holdings in InterOil Corp. were worth $32,653,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of InterOil Corp. during the second quarter valued at about $603,000. Creative Planning boosted its stake in shares of InterOil Corp. by 0.5% in the second quarter. Creative Planning now owns 20,347 shares of the company’s stock valued at $916,000 after buying an additional 100 shares during the period. HBK Investments L P boosted its stake in shares of InterOil Corp. by 81.2% in the first quarter. HBK Investments L P now owns 29,900 shares of the company’s stock valued at $952,000 after buying an additional 13,400 shares during the period. UBS Group AG boosted its stake in shares of InterOil Corp. by 11,539.4% in the first quarter. UBS Group AG now owns 39,237 shares of the company’s stock valued at $1,249,000 after buying an additional 39,580 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of InterOil Corp. by 960.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 48,538 shares of the company’s stock valued at $1,545,000 after buying an additional 43,962 shares during the period. Institutional investors and hedge funds own 48.75% of the company’s stock.
Shares of InterOil Corp. (NYSE:IOC) traded up 0.38% on Wednesday, reaching $50.66. 242,518 shares of the company’s stock traded hands. InterOil Corp. has a one year low of $21.18 and a one year high of $51.49. The company’s 50-day moving average price is $49.51 and its 200 day moving average price is $42.35. The firm’s market cap is $2.53 billion.
InterOil Corp. (NYSE:IOC) last issued its quarterly earnings results 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 firm had revenue of ($10.70) million for the quarter, compared to the consensus estimate of $1.10 million. The firm’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) EPS for the current fiscal year.
Several equities research analysts recently issued reports on IOC shares. Zacks Investment Research upgraded InterOil Corp. from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, July 26th. Raymond James Financial Inc. cut InterOil Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 16th. Sanford C. Bernstein cut InterOil Corp. from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $50.00 to $52.00 in a research note on Monday, August 15th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $50.00 price target on shares of InterOil Corp. in a research note on Tuesday, August 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. InterOil Corp. has an average rating of “Hold” and a consensus 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.
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