Ion Geophysical (IO) Hits New 1-Year High at $26.98

Ion Geophysical Corp (NYSE:IO)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $26.98 and last traded at $26.85, with a volume of 442783 shares changing hands. The stock had previously closed at $23.05.

Several equities analysts recently commented on the stock. ValuEngine raised shares of Ion Geophysical from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Evercore ISI raised shares of Ion Geophysical from an “in” rating to an “outperform” rating in a research report on Friday.

The stock has a market cap of $237.92, a PE ratio of -9.38 and a beta of 3.62. The company has a debt-to-equity ratio of 3.88, a quick ratio of 0.78 and a current ratio of 0.89.

Ion Geophysical (NYSE:IO) last announced its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. Ion Geophysical had a negative net margin of 20.19% and a negative return on equity of 102.40%.

In related news, CEO R Brian Hanson bought 36,351 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was purchased at an average cost 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 filing with the SEC, which can be accessed through this hyperlink. Also, COO Christopher Theron Usher bought 14,850 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of $13.50 per share, with a total value of $200,475.00. Following the completion of the transaction, the chief operating officer now owns 137,367 shares in the company, valued at approximately $1,854,454.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 70,589 shares of company stock valued at $927,869 in the last three months. 15.20% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of IO. Acadian Asset Management LLC lifted its position in shares of Ion Geophysical by 161.2% in the 4th quarter. Acadian Asset Management LLC now owns 61,611 shares of the oil and gas company’s stock worth $1,216,000 after purchasing an additional 38,019 shares during the period. Alambic Investment Management L.P. purchased a new stake in shares of Ion Geophysical in the 4th quarter worth about $622,000. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 22,913 shares during the period. OxFORD Asset Management LLP lifted its position 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 purchasing an additional 14,021 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Ion Geophysical by 23.9% in the 4th quarter. California Public Employees Retirement System now owns 51,532 shares of the oil and gas company’s stock worth $1,018,000 after purchasing an additional 9,938 shares during the period. 34.44% of the stock is owned by hedge funds and other institutional investors.

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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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