Clermont Group buys $261 Million stake in InterOil Corporation (USA) (IOC)

InterOil Corporation (USA) (IOC) : Clermont Group scooped up 241,970 additional shares in InterOil Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 8,460,535 shares of InterOil Corporation (USA) which is valued at $261 Million.InterOil Corporation (USA) makes up approximately 100.00% of Clermont Group’s portfolio.

Other Hedge Funds, Including , Investec Asset Management North America added IOC to its portfolio by purchasing 57,846 company shares during the most recent quarter which is valued at $1.8 Million. InterOil Corporation (USA) makes up approx 0.29% of Investec Asset Management North America’s portfolio.Raymond James Associates reduced its stake in IOC by selling 2,200 shares or 2.11% in the most recent quarter. The Hedge Fund company now holds 101,850 shares of IOC which is valued at $3.1 Million. InterOil Corporation (USA) makes up approx 0.01% of Raymond James Associates’s portfolio.Spot Trading L.l.c reduced its stake in IOC by selling 5,605 shares or 17.64% in the most recent quarter. The Hedge Fund company now holds 26,177 shares of IOC which is valued at $807,560. InterOil Corporation (USA) makes up approx 0.11% of Spot Trading L.l.c’s portfolio.Aspen Investment Management Inc boosted its stake in IOC in the latest quarter, The investment management firm added 11,192 additional shares and now holds a total of 318,319 shares of InterOil Corporation (USA) which is valued at $10.7 Million. InterOil Corporation (USA) makes up approx 9.62% of Aspen Investment Management Inc’s portfolio.

InterOil Corporation (USA) opened for trading at $41.14 and hit $42.72 on the upside on Wednesday, eventually ending the session at $42.58, with a gain of 3.88% or 1.59 points. The heightened volatility saw the trading volume jump to 7,27,874 shares. Company has a market cap of $2,116 M.

On the company’s financial health, InterOil Corporation (USA) reported $-0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 13, 2016. Analyst had a consensus of $-0.36. The company had revenue of $.92 million for the quarter, compared to analysts expectations of $1.10 million. The company’s revenue was down -92.1 % compared to the same quarter last year.

Many Wall Street Analysts have commented on InterOil Corporation (USA). InterOil Corporation (USA) was Downgraded by Citigroup to ” Neutral” on May 24, 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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