Invesco Ltd. lowered its stake in shares of Ion Geophysical Corp (NYSE:IO) by 12.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 614,564 shares of the oil and gas company’s stock after selling 88,440 shares during the quarter. Invesco Ltd. owned about 4.33% of Ion Geophysical worth $4,947,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in shares of Ion Geophysical by 3.2% during the second quarter. Renaissance Technologies LLC now owns 728,749 shares of the oil and gas company’s stock valued at $5,866,000 after acquiring an additional 22,900 shares in the last quarter. Vanguard Group Inc. boosted its position in Ion Geophysical by 1.8% in the second quarter. Vanguard Group Inc. now owns 496,465 shares of the oil and gas company’s stock valued at $3,996,000 after buying an additional 8,705 shares during the last quarter. Acadian Asset Management LLC boosted its position in Ion Geophysical by 666.9% in the second quarter. Acadian Asset Management LLC now owns 63,595 shares of the oil and gas company’s stock valued at $512,000 after buying an additional 55,302 shares during the last quarter. Alambic Investment Management L.P. boosted its position in Ion Geophysical by 190.6% in the second quarter. Alambic Investment Management L.P. now owns 61,405 shares of the oil and gas company’s stock valued at $494,000 after buying an additional 40,277 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Ion Geophysical by 1,672.9% in the second quarter. JPMorgan Chase & Co. now owns 45,989 shares of the oil and gas company’s stock valued at $365,000 after buying an additional 43,395 shares during the last quarter. Hedge funds and other institutional investors own 41.40% of the company’s stock.
IO has been the topic of a number of recent research reports. ValuEngine upgraded Ion Geophysical from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Ion Geophysical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold”.
Shares of NYSE IO opened at $8.23 on Friday. The business’s 50 day moving average price is $8.62 and its 200 day moving average price is $9.76. Ion Geophysical Corp has a 52 week low of $4.53 and a 52 week high of $17.46.
Ion Geophysical (NYSE:IO) last issued its earnings results on Wednesday, July 31st. The oil and gas company reported ($0.58) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.14. The firm had revenue of $41.78 million for the quarter, compared to analyst estimates of $36.80 million. Ion Geophysical had a negative return on equity of 2,207.78% and a negative net margin of 28.36%. Sell-side analysts predict that Ion Geophysical Corp will post -1.59 earnings per share for the current fiscal year.
Ion Geophysical Company Profile
ION Geophysical Corporation, together with its subsidiaries, provides a suite of services and products for seismic data acquisition and processing the United States and internationally. The company operates in three segments: E&P Technology & Services, Operations Optimization, and Ocean Bottom Integrated Technologies.
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