R Brian Hanson Purchases 36,351 Shares of Ion Geophysical Corp (IO) Stock

Ion Geophysical Corp (NYSE:IO) CEO R Brian Hanson bought 36,351 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was purchased at an average price of $13.05 per share, with a total value of $474,380.55. Following the transaction, the chief executive officer now owns 154,325 shares in the company, valued at approximately $2,013,941.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ion Geophysical Corp (IO) opened at $17.35 on Wednesday. Ion Geophysical Corp has a 12-month low of $3.20 and a 12-month high of $17.45. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.89 and a quick ratio of 0.78.

Ion Geophysical (NYSE:IO) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.78. Ion Geophysical had a negative return on equity of 102.40% and a negative net margin of 20.19%. The business had revenue of $61.10 million during the quarter. During the same quarter in the prior year, the firm earned ($3.30) EPS.

A number of hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its position in Ion Geophysical by 2.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 180,868 shares of the oil and gas company’s stock worth $1,720,000 after acquiring an additional 3,741 shares during the period. California Public Employees Retirement System raised its stake in shares of Ion Geophysical by 11.0% in the 3rd quarter. California Public Employees Retirement System now owns 41,594 shares of the oil and gas company’s stock worth $396,000 after buying an additional 4,128 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Ion Geophysical by 14.1% in the 3rd quarter. Wells Fargo & Company MN now owns 79,995 shares of the oil and gas company’s stock worth $761,000 after buying an additional 9,900 shares in the last quarter. OxFORD Asset Management LLP raised its stake in shares of Ion Geophysical by 49.6% in the 3rd quarter. OxFORD Asset Management LLP now owns 42,286 shares of the oil and gas company’s stock worth $400,000 after buying an additional 14,021 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Ion Geophysical by 24.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 118,559 shares of the oil and gas company’s stock worth $1,114,000 after buying an additional 22,913 shares in the last quarter. Institutional investors own 34.11% of the company’s stock.

Separately, ValuEngine upgraded Ion Geophysical from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th.

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Ion Geophysical Company Profile

ION Geophysical Corporation is a technology-focused company. It provides geophysical technology, services and solutions to the global oil and gas industry. Its offerings are designed to enable oil and gas exploration and production (E&P) companies to obtain images of the Earth’s subsurface. It offers services and products through three segments: E&P Technology & Services, E&P Operations Optimization, and Ocean Bottom Services.

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