Shares of Ion Geophysical Corp (NYSE:IO) have been given a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price objective of $30.50 for the company and are expecting that the company will post $0.91 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Ion Geophysical an industry rank of 180 out of 255 based on the ratings given to its competitors.

Several research analysts have recently commented on the company. Oppenheimer reduced their target price on Ion Geophysical to $79.00 and set an “outperform” rating for the company in a research note on Friday, August 3rd. Janney Montgomery Scott assumed coverage on Ion Geophysical in a research note on Tuesday, May 29th. They set a “buy” rating and a $35.00 target price for the company.

Shares of NYSE:IO traded down $0.25 during trading on Tuesday, hitting $15.05. 112,500 shares of the company were exchanged, compared to its average volume of 243,568. The company has a quick ratio of 0.88, a current ratio of 1.04 and a debt-to-equity ratio of 3.45. Ion Geophysical has a fifty-two week low of $7.55 and a fifty-two week high of $32.45. The firm has a market capitalization of $210.04 million, a price-to-earnings ratio of -9.33 and a beta of 2.58.

Ion Geophysical (NYSE:IO) last issued its earnings results on Wednesday, August 1st. The oil and gas company reported ($1.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($1.45). Ion Geophysical had a negative return on equity of 79.01% and a negative net margin of 22.99%. The business had revenue of $24.74 million for the quarter, compared to the consensus estimate of $47.30 million. analysts anticipate that Ion Geophysical will post -0.63 earnings per share for the current year.

In other news, Director James M. Lapeyre, Jr. purchased 40,000 shares of Ion Geophysical stock in a transaction that occurred on Wednesday, August 15th. The stock was acquired at an average cost of $15.88 per share, for a total transaction of $635,200.00. Following the purchase, the director now directly owns 172,773 shares of the company’s stock, valued at approximately $2,743,635.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Brian Hanson sold 97,760 shares of the business’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $23.18, for a total value of $2,266,076.80. Following the completion of the sale, the chief executive officer now owns 50,040 shares of the company’s stock, valued at $1,159,927.20. The disclosure for this sale can be found here. Insiders own 14.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IO. BlackRock Inc. raised its holdings in Ion Geophysical by 288.9% in the 2nd quarter. BlackRock Inc. now owns 682,211 shares of the oil and gas company’s stock valued at $16,578,000 after acquiring an additional 506,791 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Ion Geophysical by 14.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 426,584 shares of the oil and gas company’s stock valued at $10,366,000 after acquiring an additional 54,421 shares in the last quarter. Millennium Management LLC raised its holdings in Ion Geophysical by 656.2% in the 1st quarter. Millennium Management LLC now owns 309,236 shares of the oil and gas company’s stock valued at $8,380,000 after acquiring an additional 268,342 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Ion Geophysical by 19.6% in the 1st quarter. Neuberger Berman Group LLC now owns 178,788 shares of the oil and gas company’s stock valued at $4,841,000 after acquiring an additional 29,343 shares in the last quarter. Finally, Alambic Investment Management L.P. raised its holdings in Ion Geophysical by 428.9% in the 1st quarter. Alambic Investment Management L.P. now owns 166,613 shares of the oil and gas company’s stock valued at $4,515,000 after acquiring an additional 135,113 shares in the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

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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