InterOil Corporation (IOC) Shares are Up 3.14%

InterOil Corporation (IOC) : Traders are bullish on InterOil Corporation (IOC) as it has outperformed the S&P 500 by a wide margin of 4.31% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.97%, 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 3.14% in the last 1 week, and is up 3.75% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 2.8% and the 50-Day Moving Average is 3.33%.The 200 Day SMA reached 35.11%

InterOil

InterOil Corporation (NYSE:IOC): The stock opened in the green at $50.81 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $51.21 and a low of $50.69 for the day. The stock did not find buyers even at the lows and closed at $50.92 recording a loss of -0.39%. 587,195 shares exchanged hands during the trading day. The stock had closed at $50.92 in the previous days trading.

InterOil Corporation (IOC) : The consensus price target for InterOil Corporation (IOC) is $58.5 for the short term with a standard deviation of $9.19. The most optimist securities analyst among the 2 who monitor the stock believes that the stock can reach $65, however, the pessimist price target for the company is $52.

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.

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