Independence Contract Drilling (NYSE:ICD – Get Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.
Independence Contract Drilling Price Performance
ICD stock opened at $1.76 on Friday. The stock’s 50 day moving average is $1.83 and its two-hundred day moving average is $2.15. Independence Contract Drilling has a 52-week low of $1.61 and a 52-week high of $3.45. The company has a market capitalization of $26.77 million, a PE ratio of -0.53 and a beta of 4.86. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.98.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.23. The business had revenue of $46.64 million during the quarter, compared to the consensus estimate of $41.64 million. Independence Contract Drilling had a negative net margin of 24.20% and a negative return on equity of 11.44%. During the same quarter last year, the company earned $0.14 earnings per share. Analysts predict that Independence Contract Drilling will post -2.69 earnings per share for the current fiscal year.
Hedge Funds 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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