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

StockNews.com assumed coverage on shares of Independence Contract Drilling (NYSE:ICD) in a report published on Friday morning. The firm issued a hold rating on the oil and gas company’s stock.

Independence Contract Drilling Stock Performance

The stock has a market capitalization of $8.91 million, a price-to-earnings ratio of -0.18 and a beta of 4.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.26 and a current ratio of 1.31. Independence Contract Drilling has a 52 week low of $0.50 and a 52 week high of $3.29. The company’s 50 day moving average price is $0.98 and its two-hundred day moving average price is $1.44.

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 the consensus estimate of ($0.76) by $0.03. The firm had revenue of $43.33 million for the quarter, compared to analyst estimates of $41.86 million. Independence Contract Drilling had a negative return on equity of 11.44% and a negative net margin of 24.20%. Analysts forecast that Independence Contract Drilling will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Independence Contract Drilling

A hedge fund recently bought a new stake in Independence Contract Drilling stock. Virtu Financial LLC bought a new stake in Independence Contract Drilling, Inc. (NYSE:ICD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 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.