StockNews.com started coverage on shares of Independence Contract Drilling (NYSE:ICD – Free Report) in a research report report published on Monday morning. The brokerage issued a hold rating on the oil and gas company’s stock.
Independence Contract Drilling Price Performance
ICD opened at $0.65 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.98. The business has a fifty day moving average of $1.20 and a 200 day moving average of $1.57. Independence Contract Drilling has a 52-week low of $0.50 and a 52-week high of $3.45. The stock has a market cap of $9.89 million, a P/E ratio of -0.20 and a beta of 4.93.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.03. Independence Contract Drilling had a negative net margin of 24.20% and a negative return on equity of 11.44%. The firm had revenue of $43.33 million for the quarter, compared to analysts’ expectations of $41.86 million. As a group, sell-side analysts anticipate that Independence Contract Drilling will post -2.54 EPS for the current year.
Institutional Investors Weigh In On 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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