Research analysts at StockNews.com started coverage on shares of Independence Contract Drilling (NYSE:ICD – Get Free Report) in a report issued on Thursday. The firm set a “hold” rating on the oil and gas company’s stock.
Independence Contract Drilling Stock Down 3.4 %
Shares of ICD stock opened at $1.42 on Thursday. The company has a market capitalization of $21.60 million, a price-to-earnings ratio of -0.43 and a beta of 4.86. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.31 and a quick ratio of 1.26. The company’s fifty day moving average price is $1.77 and its 200-day moving average price is $2.03. Independence Contract Drilling has a one year low of $1.29 and a one year high of $3.45.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.23. The firm had revenue of $46.64 million during the quarter, compared to analyst estimates of $41.64 million. Independence Contract Drilling had a negative return on equity of 11.44% and a negative net margin of 24.20%. During the same quarter in the prior year, the company posted $0.14 earnings per share. Sell-side analysts expect that Independence Contract Drilling will post -2.65 EPS for the current fiscal year.
Institutional Trading of Independence Contract Drilling
Independence Contract Drilling Company Profile
Independence Contract Drilling, Inc provides land-based contract drilling services for oil and natural gas producers in the United States. It operates a fleet of pad-optimal and superspec AC powered rigs in the Permian Basin and the Haynesville Shale. The company was incorporated in 2011 and is headquartered in Houston, Texas.
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