First Eagle Investment Management LLC Raises Stock Position in Geospace Technologies Co. (NASDAQ:GEOS)

First Eagle Investment Management LLC lifted its stake in shares of Geospace Technologies Co. (NASDAQ:GEOS) by 1,200.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 283,321 shares of the oil and gas company’s stock after acquiring an additional 261,530 shares during the quarter. First Eagle Investment Management LLC owned approximately 2.21% of Geospace Technologies worth $2,839,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its position 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 acquiring an additional 872 shares during the period. EagleClaw Capital Managment LLC bought a new position in shares of Geospace Technologies during the third quarter valued at approximately $114,000. Barclays PLC boosted its stake in shares of Geospace Technologies by 278.2% during the third quarter. Barclays PLC now owns 16,622 shares of the oil and gas company’s stock valued at $172,000 after purchasing an additional 12,227 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Geospace Technologies by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 26,558 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake 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 valued at $476,000 after purchasing an additional 17,098 shares in the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Geospace Technologies Stock Up 2.9 %

Shares of GEOS opened at $7.57 on Friday. The company has a market cap of $96.72 million, a price-to-earnings ratio of -9.12 and a beta of 0.57. Geospace Technologies Co. has a twelve month low of $7.20 and a twelve month high of $14.83. The company has a 50 day moving average of $8.84 and a two-hundred day moving average of $10.13.

Geospace Technologies (NASDAQ:GEOS) last announced its earnings results 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%.

About Geospace Technologies

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.