InterOil Corporation (IOC) : Traders are bullish on InterOil Corporation (IOC) as it has outperformed the S&P 500 by a margin of 10.74% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.69%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.32% in the last 1 week, and is up 18.22% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
InterOil Corporation (NYSE:IOC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $48.54 and $48.36 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $49.35. The buying momentum continued till the end and the stock did not give up its gains. It closed at $49.19, notching a gain of 1.23% for the day. The total traded volume was 1,257,358 . The stock had closed at $48.59 on the previous day.
The stock has recorded a 20-day Moving Average of 6.27% and the 50-Day Moving Average is 15.46%. InterOil Corporation is up 43.58% in the last 3-month period. Year-to-Date the stock performance stands at 56.56%.
InterOil Corporation (InterOil) is an oil and gas exploration and production company. Papua New Guinea explores for oil and gas across over 4 million acres in the south of the country. The area is divided into four Petroleum Prospecting Licenses (PPLs) and two Petroleum Retention Licenses (PRLs). A feature of InterOils work in Papua New Guinea is PRL 15 that contains the Elk-Antelope field. PRL 39 contains the Triceratops discovery. The Company held approximately 40.1% interest in PRL 15. Its subsidiaries include SPI Exploration and Production Corporation, InterOil Singapore Pte Ltd, InterOil Corporate PNG Limited, South Pacific Refining Limited, SPI Distribution Limited, InterOil LNG Holdings Inc., InterOil Australia Pty Ltd and Direct Employment Services Company, among others. Its applications for new petroleum prospecting licenses were approved with PPL 474 replacing PPL 236, PPL 475 replacing PPL 237, and PPL 476 and PPL 477 replacing PPL 238 and included new license commitments.