NEW YORK ( TheStreet) -- InterOil Corporation (NYSE: IOC) is trading at unusually high volume Friday with 2.5 million shares changing hands. It is currently at four times its average daily volume and trading down $3.61 (-6.6%) at $50.77 as of 3:50 p.m. ET. InterOil has a market cap of $3.27 billion and is part of the basic materials sector and energy industry. Shares are up 6.4% year to date as of the close of trading on Thursday. InterOil Corporation primarily engages in the exploration, appraisal, and development of crude oil and natural gas properties in Papua New Guinea. It also involves in the refining and liquefaction of jet fuel, diesel, and gasoline, as well as naphtha and low sulfur waxy residue. The company has a P/E ratio of 150.6, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates InterOil as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins. You can view the full InterOil Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.