Independence Contract Drilling (NYSE:ICD) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Independence Contract Drilling (NYSE:ICD) in a report published on Saturday. The brokerage issued a hold rating on the oil and gas company’s stock.

Independence Contract Drilling Price Performance

The firm has a fifty day moving average of $0.98 and a two-hundred day moving average of $1.44. The firm has a market cap of $8.91 million, a PE ratio of -0.18 and a beta of 4.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.31 and a quick ratio of 1.26. Independence Contract Drilling has a fifty-two week low of $0.50 and a fifty-two week high of $3.29.

Independence Contract Drilling (NYSE:ICD) last posted its quarterly 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. The business had revenue of $43.33 million during the quarter, compared to the consensus estimate of $41.86 million. Independence Contract Drilling had a negative return on equity of 11.44% and a negative net margin of 24.20%. On average, equities analysts expect that Independence Contract Drilling will post -2.54 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Independence Contract Drilling stock. Virtu Financial LLC purchased a new stake in Independence Contract Drilling, Inc. (NYSE:ICD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,710 shares of the oil and gas company’s stock, valued at approximately $29,000. Virtu Financial LLC owned about 0.10% of Independence Contract Drilling as of its most recent filing with the Securities and Exchange Commission. 29.38% of the stock is owned by institutional investors.

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.