First Eagle Investment Management LLC Boosts Stake in Geospace Technologies Co. (NASDAQ:GEOS)

First Eagle Investment Management LLC grew its stake in Geospace Technologies Co. (NASDAQ:GEOS) by 1,200.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 283,321 shares of the oil and gas company’s stock after buying an additional 261,530 shares during the period. First Eagle Investment Management LLC’s holdings in Geospace Technologies were worth $2,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEOS. Empowered Funds LLC raised its holdings in shares of Geospace Technologies by 59.2% during the third quarter. Empowered Funds LLC now owns 46,002 shares of the oil and gas company’s stock worth $476,000 after purchasing an additional 17,098 shares during the last quarter. EagleClaw Capital Managment LLC purchased a new position in shares of Geospace Technologies during the third quarter worth $114,000. BNP Paribas Financial Markets raised its holdings in shares of Geospace Technologies by 40.7% during the third quarter. BNP Paribas Financial Markets now owns 3,016 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 872 shares during the last quarter. De Lisle Partners LLP raised its holdings in shares of Geospace Technologies by 4.7% during the third quarter. De Lisle Partners LLP now owns 144,234 shares of the oil and gas company’s stock worth $1,496,000 after purchasing an additional 6,486 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Geospace Technologies by 12.4% during the third quarter. State Street Corp now owns 167,497 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 18,469 shares during the last quarter. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Geospace Technologies Stock Performance

GEOS opened at $7.57 on Friday. Geospace Technologies Co. has a fifty-two week low of $7.20 and a fifty-two week high of $14.83. The company has a fifty day moving average of $8.84 and a two-hundred day moving average of $10.13. The stock has a market capitalization of $96.72 million, a price-to-earnings ratio of -9.12 and a beta of 0.57.

Geospace Technologies (NASDAQ:GEOS) last released its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.65 earnings per share for the quarter. Geospace Technologies had a negative net margin of 8.86% and a positive return on equity of 4.61%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Geospace Technologies from a “sell” rating to a “hold” rating in a report on Thursday, November 28th.

Geospace Technologies Profile

Geospace Technologies Corporation designs and manufactures instruments and equipment used in the oil and gas industry to acquire seismic data in order to locate, characterize, and monitor hydrocarbon producing reservoirs. The company operates through three segments: Oil and Gas Markets, Adjacent Markets, and Emerging Markets.