Research analysts at StockNews.com initiated coverage on shares of Independence Contract Drilling (NYSE:ICD – Get Free Report) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the oil and gas company’s stock.
Independence Contract Drilling Trading Down 2.0 %
NYSE ICD opened at $1.45 on Friday. The company’s fifty day simple moving average is $1.71 and its 200-day simple moving average is $1.97. Independence Contract Drilling has a 52 week low of $1.29 and a 52 week high of $3.45. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.98. The stock has a market cap of $22.05 million, a P/E ratio of -0.44 and a beta of 4.79.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last posted its earnings results on Wednesday, May 1st. The oil and gas company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.23. Independence Contract Drilling had a negative net margin of 24.20% and a negative return on equity of 11.44%. The business had revenue of $46.64 million for the quarter, compared to analysts’ expectations of $41.64 million. During the same period in the previous year, the company posted $0.14 earnings per share. Equities research analysts predict that Independence Contract Drilling will post -2.51 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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