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ION Geophysical (IO) Reaches $26.15 After 3.00% Down Move; Oceanic Investment Management LTD Has Trimmed Patterson Uti Energy (PTEN) Position By $4.54 Million

ION Geophysical Corporation (NYSE:IO) Logo

The stock of ION Geophysical Corporation (NYSE:IO) is a huge mover today! The stock decreased 13.55% or $4.1 during the last trading session, reaching $26.15. About 464,757 shares traded or 65.73% up from the average. ION Geophysical Corporation (NYSE:IO) has risen 475.56% since May 3, 2017 and is uptrending. It has outperformed by 464.01% the S&P500.The move comes after 9 months negative chart setup for the $368.13 million company. It was reported on May, 3 by Barchart.com. We have $25.37 PT which if reached, will make NYSE:IO worth $11.04 million less.

Oceanic Investment Management Ltd decreased Patterson Uti Energy Inc (PTEN) stake by 54.37% reported in 2017Q4 SEC filing. Oceanic Investment Management Ltd sold 197,251 shares as Patterson Uti Energy Inc (PTEN)’s stock declined 22.71%. The Oceanic Investment Management Ltd holds 165,524 shares with $3.81 million value, down from 362,775 last quarter. Patterson Uti Energy Inc now has $4.75 billion valuation. The stock decreased 1.83% or $0.4 during the last trading session, reaching $21.43. About 1.24M shares traded. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has declined 24.28% since May 3, 2017 and is downtrending. It has underperformed by 35.83% the S&P500.

Among 3 analysts covering Ion Geophysical Corp (NYSE:IO), 1 have Buy rating, 1 Sell and 1 Hold. Therefore 33% are positive. Ion Geophysical Corp had 5 analyst reports since August 10, 2015 according to SRatingsIntel. Oppenheimer initiated ION Geophysical Corporation (NYSE:IO) rating on Wednesday, March 28. Oppenheimer has “Buy” rating and $3500 target. Zacks downgraded the shares of IO in report on Thursday, September 3 to “Sell” rating. Zacks downgraded the stock to “Hold” rating in Monday, August 10 report. On Monday, August 24 the stock rating was downgraded by Zacks to “Hold”. The firm earned “Market Perform” rating on Monday, August 24 by Cowen & Co.

ION Geophysical Corporation provides geoscience products, services, and solutions to the gas and oil industry worldwide. The company has market cap of $368.13 million. It operates through three divisions: E&P Technology & Services, E&P Operations Optimization, and Ocean Bottom Services. It currently has negative earnings. The E&P Technology & Services segment offers services to manage the entire seismic process, from survey planning and design to data acquisition and management, to final subsurface imaging and reservoir characterization.

Since March 13, 2018, it had 0 insider buys, and 1 sale for $194,600 activity. Shares for $194,600 were sold by HUNT TERRY H on Tuesday, March 13.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Institutional Positions Chart

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