StockNews.com began coverage on shares of Independence Contract Drilling (NYSE:ICD – Free Report) in a report issued on Monday morning. The brokerage issued a hold rating on the oil and gas company’s stock.
Independence Contract Drilling Price Performance
Shares of NYSE:ICD opened at $0.70 on Monday. Independence Contract Drilling has a 12 month low of $0.50 and a 12 month high of $3.29. The stock has a market cap of $10.68 million, a price-to-earnings ratio of -0.21 and a beta of 4.93. The stock’s 50 day moving average price is $1.15 and its 200 day moving average price is $1.55. 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 (NYSE:ICD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.03. The firm had revenue of $43.33 million for the quarter, compared to analyst estimates of $41.86 million. Independence Contract Drilling had a negative net margin of 24.20% and a negative return on equity of 11.44%. Equities research analysts anticipate that Independence Contract Drilling will post -2.54 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
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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