Raymond James Downgrades InterOil Corporation (USA) to Market Perform

Brokerage firm Raymond James Downgrades its rating on InterOil Corporation (USA)(NYSE:IOC). The shares have been rated Market Perform. The rating by Raymond James was issued on Jun 16, 2016.

In a different note, On May 24, 2016, Citigroup said it Downgrades its rating on InterOil Corporation (USA). The shares have been rated ‘Neutral’ by the firm.

InterOil Corporation (USA) (IOC) shares turned negative on Tuesdays trading session with the shares closing down -0.82 points or -1.88% at a volume of 4,17,635. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $43.4. The peak price level was also seen at $43.4 while the days lowest was $42.39. Finally the shares closed at $42.78. The 52-week high of the shares is $61.15 while the 52-week low is $21.1801. According to the latest information available, the market cap of the company is $2,125 M.

InterOil Corporation (USA)(IOC) last announced its earnings results on May 13, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $921.13K. Analysts had an estimated revenue of $1.10M. Earnings per share were $-0.34. Analysts had estimated an EPS of $-0.30.

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 InterOil’s 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.

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