Ion Geophysical Corp (NYSE:IO) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also given Ion Geophysical an industry rank of 237 out of 265 based on the ratings given to its competitors.
A number of research analysts recently issued reports on IO shares. Evercore ISI upgraded shares of Ion Geophysical from an “in-line” rating to an “outperform” rating in a research note on Friday, February 9th. ValuEngine downgraded shares of Ion Geophysical from a “hold” rating to a “sell” rating in a research note on Friday, December 1st.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Ion Geophysical by 1.4% in the fourth quarter. BlackRock Inc. now owns 176,372 shares of the oil and gas company’s stock worth $3,483,000 after acquiring an additional 2,388 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Ion Geophysical by 2.1% in the third quarter. Neuberger Berman Group LLC now owns 180,868 shares of the oil and gas company’s stock worth $1,720,000 after acquiring an additional 3,741 shares during the last quarter. California Public Employees Retirement System lifted its stake in Ion Geophysical by 11.0% in the third quarter. California Public Employees Retirement System now owns 41,594 shares of the oil and gas company’s stock worth $396,000 after acquiring an additional 4,128 shares during the last quarter. Wells Fargo & Company MN raised its holdings in 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 worth $761,000 after purchasing an additional 9,900 shares in the last quarter. Finally, Monashee Investment Management LLC acquired a new stake in Ion Geophysical during the fourth quarter worth approximately $200,000. Institutional investors own 31.50% of the company’s stock.
Ion Geophysical stock traded down $2.30 during midday trading on Monday, hitting $22.60. 276,885 shares of the stock traded hands, compared to its average volume of 280,788. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 3.79. Ion Geophysical has a twelve month low of $3.20 and a twelve month high of $32.45. The stock has a market capitalization of $344.70, a price-to-earnings ratio of -8.79 and a beta of 2.82.
Ion Geophysical (NYSE:IO) last issued its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $57.90 million during the quarter.
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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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