P Schoenfeld Asset Management Lp adds InterOil Corporation (USA) (IOC) to its portfolio

InterOil Corporation (USA) (IOC) : P Schoenfeld Asset Management Lp added new position in InterOil Corporation (USA) during the most recent quarter end. The investment management firm now holds 207,008 shares of InterOil Corporation (USA) which is valued at $10,147,532 , the company said in a statement filed on Aug 10, 2016 with the SEC.InterOil Corporation (USA) makes up approximately 1.41% of P Schoenfeld Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Blackrock Investment Management boosted its stake in IOC in the latest quarter, The investment management firm added 21,423 additional shares and now holds a total of 21,561 shares of InterOil Corporation (USA) which is valued at $1,056,920.Central Trust Co reduced its stake in IOC by selling 200 shares or 2.25% in the most recent quarter. The Hedge Fund company now holds 8,675 shares of IOC which is valued at $425,162. InterOil Corporation (USA) makes up approx 0.03% of Central Trust Co’s portfolio.Cutler Group Lp boosted its stake in IOC in the latest quarter, The investment management firm added 2,400 additional shares and now holds a total of 4,100 shares of InterOil Corporation (USA) which is valued at $197,702. InterOil Corporation (USA) makes up approx 0.01% of Cutler Group Lp’s portfolio.

InterOil Corporation (USA) opened for trading at $48.95 and hit $49.06 on the upside on Friday, eventually ending the session at $49.03, with a gain of 0.10% or 0.05 points. The heightened volatility saw the trading volume jump to 2,90,262 shares. Company has a market cap of $2,450 M.

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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