Ion Geophysical Corporation (IO) Stock Rating Upgraded by ValuEngine
Ion Geophysical Corporation (NYSE:IO) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
Ion Geophysical Corporation (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 Corporation had a negative net margin of 20.03% and a negative return on equity of 91.64%. During the same quarter in the prior year, the firm earned ($3.30) EPS.
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In other news, EVP Jamey S. Seely sold 12,500 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $5.02, for a total transaction of $62,750.00. Following the transaction, the executive vice president now directly owns 103,935 shares in the company, valued at $521,753.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.20% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Ion Geophysical Corporation stock. JPMorgan Chase & Co. raised its position in Ion Geophysical Corporation (NYSE:IO) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,783 shares of the oil and gas company’s stock after acquiring an additional 481 shares during the period. JPMorgan Chase & Co. owned approximately 0.81% of Ion Geophysical Corporation worth $464,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 33.57% of the company’s stock.
Ion Geophysical Corporation 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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