Equities researchers 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 Monday. The firm set a “hold” rating on the oil and gas company’s stock.
Independence Contract Drilling Price Performance
Shares of NYSE:ICD opened at $0.72 on Monday. 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’s 50 day moving average is $1.18 and its two-hundred day moving average is $1.56. The firm has a market capitalization of $11.02 million, a P/E ratio of -0.22 and a beta of 4.93. Independence Contract Drilling has a 52 week low of $0.50 and a 52 week high of $3.45.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported ($0.73) earnings per share (EPS) for the quarter, topping 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 company had revenue of $43.33 million during the quarter, compared to analyst estimates of $41.86 million. Analysts anticipate that Independence Contract Drilling will post -2.54 earnings per share 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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