Ion Geophysical Corp (IO) COO Purchases $200,475.00 in Stock
Ion Geophysical Corp (NYSE:IO) COO Christopher Theron Usher purchased 14,850 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were purchased at an average price of $13.50 per share, for a total transaction of $200,475.00. Following the acquisition, the chief operating officer now directly owns 137,367 shares of the company’s stock, valued at $1,854,454.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ion Geophysical Corp (NYSE IO) traded up $3.25 during mid-day trading on Tuesday, hitting $17.35. 630,591 shares of the stock were exchanged, compared to its average volume of 88,570. Ion Geophysical Corp has a twelve month low of $3.20 and a twelve month high of $17.45. 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 (NYSE:IO) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.78. Ion Geophysical had a negative net margin of 20.19% and a negative return on equity of 102.40%. The business had revenue of $61.10 million for the quarter. During the same quarter in the prior year, the firm earned ($3.30) EPS.
Several hedge funds have recently added to or reduced their stakes in IO. Neuberger Berman Group LLC increased its stake in Ion Geophysical by 2.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 180,868 shares of the oil and gas company’s stock valued at $1,720,000 after buying an additional 3,741 shares during the period. California Public Employees Retirement System increased its stake in Ion Geophysical by 11.0% in the 3rd quarter. California Public Employees Retirement System now owns 41,594 shares of the oil and gas company’s stock valued at $396,000 after buying an additional 4,128 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. 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. Finally, JPMorgan Chase & Co. increased its stake in Ion Geophysical by 24.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 118,559 shares of the oil and gas company’s stock valued at $1,114,000 after buying an additional 22,913 shares during the period. Institutional investors and hedge funds own 34.11% of the company’s stock.
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About Ion Geophysical
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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