JPMorgan Chase & Co. Purchases 22,913 Shares of Ion Geophysical Corp (NYSE:IO)

JPMorgan Chase & Co. lifted its stake in Ion Geophysical Corp (NYSE:IO) by 24.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,559 shares of the oil and gas company’s stock after purchasing an additional 22,913 shares during the quarter. JPMorgan Chase & Co. owned 1.00% of Ion Geophysical worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, ValuEngine lowered Ion Geophysical from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd.

In other Ion Geophysical news, CEO R Brian Hanson bought 36,351 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was acquired 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 $2,013,941.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher Theron Usher bought 14,850 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was acquired at an average cost of $13.50 per share, with a total value of $200,475.00. Following 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. In the last three months, insiders acquired 70,589 shares of company stock valued at $927,869. 15.20% of the stock is owned by insiders.

Ion Geophysical Corp (NYSE IO) traded up $0.50 on Friday, hitting $18.20. The stock had a trading volume of 156,943 shares, compared to its average volume of 206,936. The company has a current ratio of 0.89, a quick ratio of 0.78 and a debt-to-equity ratio of 3.88. The stock has a market cap of $210.56, a price-to-earnings ratio of -6.07 and a beta of 3.62. Ion Geophysical Corp has a 12-month low of $3.20 and a 12-month high of $24.20.

Ion Geophysical (NYSE:IO) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $61.10 million during the quarter. During the same period in the prior year, the firm earned ($3.30) EPS.

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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.

Institutional Ownership by Quarter for Ion Geophysical (NYSE:IO)

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