StockNews.com initiated coverage on shares of Independence Contract Drilling (NYSE:ICD – Free Report) in a research report released on Thursday. The brokerage issued a hold rating on the oil and gas company’s stock.
Independence Contract Drilling Stock Performance
The stock has a market cap of $8.91 million, a P/E 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. The firm has a 50-day moving average of $1.03 and a two-hundred day moving average of $1.47.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03. The company had revenue of $43.33 million for 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%. Research analysts predict that Independence Contract Drilling will post -2.54 EPS for the current year.
Institutional Investors Weigh In On Independence Contract Drilling
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.
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