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

StockNews.com began coverage on shares of Independence Contract Drilling (NYSE:ICD) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Independence Contract Drilling Price Performance

The firm has a market capitalization of $8.91 million, a PE ratio of -0.18 and a beta of 4.93. 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 company has a 50 day moving average price of $1.07 and a two-hundred day moving average price of $1.50. Independence Contract Drilling has a 12 month low of $0.50 and a 12 month high of $3.29.

Independence Contract Drilling (NYSE:ICD) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03. The firm had revenue of $43.33 million during the quarter, compared to analysts’ expectations of $41.86 million. Independence Contract Drilling had a negative net margin of 24.20% and a negative return on equity of 11.44%. As a group, equities research analysts anticipate that Independence Contract Drilling will post -2.54 EPS for the current fiscal year.

Institutional Trading of Independence Contract Drilling

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

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.