OxFORD Asset Management LLP grew its holdings in shares of Ion Geophysical Corp (NYSE:IO) by 49.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 42,286 shares of the oil and gas company’s stock after purchasing an additional 14,021 shares during the period. OxFORD Asset Management LLP owned approximately 0.36% of Ion Geophysical worth $400,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in IO. California Public Employees Retirement System increased its position in shares of Ion Geophysical by 203.9% during the first quarter. California Public Employees Retirement System now owns 43,966 shares of the oil and gas company’s stock valued at $213,000 after acquiring an additional 29,500 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Ion Geophysical by 14.1% during the third quarter. Wells Fargo & Company MN now owns 79,995 shares of the oil and gas company’s stock valued at $761,000 after acquiring an additional 9,900 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Ion Geophysical by 24.0% during the third quarter. JPMorgan Chase & Co. now owns 118,559 shares of the oil and gas company’s stock valued at $1,114,000 after acquiring an additional 22,913 shares in the last quarter. Hedge funds and other institutional investors own 34.11% of the company’s stock.
Shares of Ion Geophysical Corp (NYSE:IO) opened at $21.35 on Friday. The firm has a market cap of $276.59, a P/E ratio of -7.12 and a beta of 3.81. The company has a current ratio of 0.89, a quick ratio of 0.78 and a debt-to-equity ratio of 3.88. Ion Geophysical Corp has a 1 year low of $3.20 and a 1 year high of $24.20.
Ion Geophysical (NYSE:IO) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.78. The company had revenue of $61.10 million during the quarter. Ion Geophysical had a negative net margin of 20.19% and a negative return on equity of 102.40%. During the same period last year, the business earned ($3.30) EPS.
In related news, CFO Steven Bate bought 18,176 shares of the business’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 $237,196.80. Following the transaction, the chief financial officer now owns 86,595 shares in the company, valued at approximately $1,130,064.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christopher Theron Usher bought 14,850 shares of the business’s stock in a transaction on 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 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 purchased 70,589 shares of company stock valued at $927,869 in the last three months. 15.20% of the stock is owned by insiders.
Separately, ValuEngine raised shares of Ion Geophysical from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd.
Ion Geophysical 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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