StockNews.com assumed coverage on shares of Independence Contract Drilling (NYSE:ICD – Free Report) in a research report released on Sunday morning. The brokerage issued a hold rating on the oil and gas company’s stock.
Independence Contract Drilling Stock Performance
ICD stock opened at $0.60 on Friday. The stock has a 50-day moving average price of $1.25 and a 200-day moving average price of $1.60. Independence Contract Drilling has a 1-year low of $0.50 and a 1-year 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 firm has a market cap of $9.16 million, a PE ratio of -0.18 and a beta of 4.93.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last issued its earnings results on Wednesday, August 7th. The oil and gas company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03. Independence Contract Drilling had a negative return on equity of 11.44% and a negative net margin of 24.20%. The business had revenue of $43.33 million during the quarter, compared to analyst estimates of $41.86 million. As a group, equities research analysts expect that Independence Contract Drilling will post -2.54 earnings per share for the current year.
Institutional Trading of Independence Contract Drilling
About Independence Contract Drilling
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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