Ion Geophysical (IO) Stock Rating Lowered by ValuEngine
ValuEngine downgraded shares of Ion Geophysical (NYSE:IO) from a hold rating to a sell rating in a research note published on Friday morning.
Ion Geophysical (NYSE:IO) opened at $13.55 on Friday. Ion Geophysical has a 1-year low of $3.20 and a 1-year high of $15.30. The company has a debt-to-equity ratio of 3.88, a quick ratio of 0.78 and a current ratio of 0.89.
Ion Geophysical (NYSE:IO) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.78. The business had revenue of $61.10 million for the quarter. Ion Geophysical had a negative net margin of 20.19% and a negative return on equity of 102.40%. During the same quarter in the previous year, the company earned ($3.30) earnings per share.
Several hedge funds have recently made changes to their positions in IO. California Public Employees Retirement System lifted its holdings in shares of Ion Geophysical by 203.9% during the 1st quarter. California Public Employees Retirement System now owns 43,966 shares of the oil and gas company’s stock worth $213,000 after acquiring an additional 29,500 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Ion Geophysical by 24.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 118,559 shares of the oil and gas company’s stock worth $1,114,000 after acquiring an additional 22,913 shares during the period. OxFORD Asset Management LLP lifted its holdings in shares of Ion Geophysical by 49.6% during the 3rd quarter. OxFORD Asset Management LLP now owns 42,286 shares of the oil and gas company’s stock worth $400,000 after acquiring an additional 14,021 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Ion Geophysical by 14.1% during the 3rd quarter. Wells Fargo & Company MN now owns 79,995 shares of the oil and gas company’s stock worth $761,000 after acquiring an additional 9,900 shares during the period. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Ion Geophysical by 2.1% during the 3rd 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 period. Institutional investors and hedge funds own 34.11% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Ion Geophysical (IO) Stock Rating Lowered by ValuEngine” was originally published by Watch List News and is owned by of Watch List News. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://www.watchlistnews.com/ion-geophysical-io-stock-rating-lowered-by-valuengine/1745095.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Ion Geophysical Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ion Geophysical Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.