ValuEngine upgraded shares of Ion Geophysical (NYSE:IO) from a sell rating to a hold rating in a report published on Friday.
Other research analysts have also issued research reports about the stock. Oppenheimer assumed coverage on shares of Ion Geophysical in a research note on Thursday, March 29th. They issued an outperform rating and a $35.00 price objective on the stock. Evercore ISI upgraded shares of Ion Geophysical from an in-line rating to an outperform rating in a research note on Friday, February 9th. Finally, CIBC assumed coverage on shares of Ion Geophysical in a research note on Thursday, March 29th. They issued an outperform rating on the stock.
IO stock opened at $25.55 on Friday. Ion Geophysical has a 52-week low of $3.20 and a 52-week high of $32.45. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 3.79. The company has a market cap of $356.47, a PE ratio of -15.87 and a beta of 2.82.
Ion Geophysical (NYSE:IO) last released its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.43. Ion Geophysical had a negative net margin of 15.31% and a negative return on equity of 65.84%. The business had revenue of $57.90 million for the quarter. equities research analysts anticipate that Ion Geophysical will post 0.11 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. OxFORD Asset Management LLP increased its stake in 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 valued at $400,000 after buying an additional 14,021 shares during the period. Wells Fargo & Company MN increased its stake in 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 valued at $761,000 after buying an additional 9,900 shares during the period. Spark Investment Management LLC increased its stake in shares of Ion Geophysical by 21.7% during the 4th quarter. Spark Investment Management LLC now owns 60,100 shares of the oil and gas company’s stock worth $1,186,000 after purchasing an additional 10,700 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ion Geophysical by 24.0% during 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 last quarter. Finally, Alambic Investment Management L.P. acquired a new position in shares of Ion Geophysical during the 4th quarter worth $622,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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