Lombard Odier Asset Management (europe) Ltd Lowers stake in InterOil Corporation (USA) (IOC)

InterOil Corporation (USA) (IOC) : Lombard Odier Asset Management (europe) Ltd reduced its stake in InterOil Corporation (USA) by 15.53% during the most recent quarter end. The investment management company now holds a total of 19,233 shares of InterOil Corporation (USA) which is valued at $942,802 after selling 3,537 shares in InterOil Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.InterOil Corporation (USA) makes up approximately 1.70% of Lombard Odier Asset Management (europe) Ltd’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp reduced its stake in IOC by selling 235,708 shares or 39.47% in the most recent quarter. The Hedge Fund company now holds 361,535 shares of IOC which is valued at $17,722,446. InterOil Corporation (USA) makes up approx 0.10% of Susquehanna International Group Llp’s portfolio.Key Group Holdings (cayman) Ltd. reduced its stake in IOC by selling 491,270 shares or 31.21% in the most recent quarter. The Hedge Fund company now holds 1,082,616 shares of IOC which is valued at $53,069,836. InterOil Corporation (USA) makes up approx 4.67% of Key Group Holdings (cayman) Ltd.’s portfolio.Norges Bank reduced its stake in IOC by selling 109,308 shares or 31.08% in the most recent quarter. The Hedge Fund company now holds 242,431 shares of IOC which is valued at $11,883,968. InterOil Corporation (USA) makes up approx 0.01% of Norges Bank’s portfolio. Moors Cabot sold out all of its stake in IOC during the most recent quarter. The investment firm sold 35,076 shares of IOC which is valued $1,719,075.

InterOil Corporation (USA) closed down -0.24 points or -0.49% at $48.84 with 3,22,624 shares getting traded on Thursday. Post opening the session at $49.15, the shares hit an intraday low of $48.66 and an intraday high of $49.155 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, InterOil Corporation (USA) reported $-1.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.80 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.36. The company had revenue of $-10.70 million for the quarter, compared to analysts expectations of $.90 million. The company’s revenue was down -21.3 % compared to the same quarter last year.

Many Wall Street Analysts have commented on InterOil Corporation (USA). InterOil Corporation (USA) was Downgraded by Bernstein to ” Mkt Perform” on Aug 15, 2016. InterOil Corporation (USA) was Resumed by Goldman to “Neutral” on Aug 2, 2016. InterOil Corporation (USA) was Downgraded by Raymond James to ” Mkt Perform” on Jun 16, 2016.

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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