Ion Geophysical Corp (NYSE:IO) CEO R Brian Hanson sold 97,760 shares of the firm’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $23.18, for a total transaction of $2,266,076.80. Following the transaction, the chief executive officer now directly owns 50,040 shares in the company, valued at $1,159,927.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
R Brian Hanson also recently made the following trade(s):
- On Tuesday, June 19th, R Brian Hanson sold 57,695 shares of Ion Geophysical stock. The shares were sold at an average price of $22.74, for a total transaction of $1,311,984.30.
Shares of IO stock opened at $24.40 on Friday. The stock has a market capitalization of $340.78 million, a price-to-earnings ratio of -15.16 and a beta of 2.79. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.14 and a current ratio of 1.31. Ion Geophysical Corp has a 52 week low of $3.20 and a 52 week high of $32.45.
Ion Geophysical (NYSE:IO) last announced its quarterly earnings data on Wednesday, May 2nd. The oil and gas company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($0.22) by ($1.12). The company had revenue of $33.51 million during the quarter, compared to the consensus estimate of $37.90 million. Ion Geophysical had a negative return on equity of 49.23% and a negative net margin of 12.76%. During the same period in the prior year, the firm posted $0.14 EPS. research analysts predict that Ion Geophysical Corp will post 0.19 earnings per share for the current year.
IO has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Ion Geophysical in a research report on Thursday, March 29th. They set an “outperform” rating and a $35.00 price target on the stock. CIBC initiated coverage on shares of Ion Geophysical in a research report on Thursday, March 29th. They set an “outperform” rating on the stock. ValuEngine raised shares of Ion Geophysical from a “sell” rating to a “hold” rating in a research report on Friday, April 6th. Finally, Janney Montgomery Scott initiated coverage on shares of Ion Geophysical in a research report on Tuesday, May 29th. They set a “buy” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Ion Geophysical currently has an average rating of “Buy” and a consensus price target of $35.00.
A number of hedge funds have recently made changes to their positions in IO. Jane Street Group LLC bought a new stake in Ion Geophysical in the fourth quarter worth about $203,000. Dynamic Technology Lab Private Ltd bought a new stake in Ion Geophysical in the first quarter worth about $207,000. Guggenheim Capital LLC bought a new stake in Ion Geophysical in the first quarter worth about $259,000. Macquarie Group Ltd. raised its position in Ion Geophysical by 269.1% in the fourth quarter. Macquarie Group Ltd. now owns 14,024 shares of the oil and gas company’s stock worth $277,000 after acquiring an additional 10,224 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Ion Geophysical in the fourth quarter worth about $316,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.
Ion Geophysical Company Profile
ION Geophysical Corporation provides geoscience products, services, and solutions to the oil and gas industry worldwide. It operates through three segments: E&P Technology & Services, E&P Operations Optimization, and Ocean Bottom Services. The E&P Technology & Services segment offers complete seismic data services, including survey design and planning, data acquisition, project management, advanced processing, and imaging services, as well as reservoir characterization and interpretation services.
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