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

StockNews.com initiated coverage on shares of Independence Contract Drilling (NYSE:ICD) 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) 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

An institutional investor recently bought a new position in Independence Contract Drilling stock. Virtu Financial LLC acquired a new position in Independence Contract Drilling, Inc. (NYSE:ICD) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,710 shares of the oil and gas company’s stock, valued at approximately $29,000. Virtu Financial LLC owned approximately 0.10% of Independence Contract Drilling at the end of the most recent reporting period. Institutional investors own 29.38% of the company’s stock.

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.