Independence Contract Drilling (NYSE:ICD) Issues Quarterly Earnings Results

Independence Contract Drilling (NYSE:ICD) announced its quarterly earnings data on Wednesday. The oil and gas company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.23, Zacks reports. The firm had revenue of $46.64 million during the quarter, compared to analyst estimates of $41.64 million. Independence Contract Drilling had a negative return on equity of 11.05% and a negative net margin of 24.20%. During the same period last year, the company posted $0.14 EPS.

Independence Contract Drilling Stock Performance

Shares of NYSE:ICD traded down $0.05 during trading on Friday, reaching $1.76. The stock had a trading volume of 22,433 shares, compared to its average volume of 61,381. The stock has a fifty day simple moving average of $1.83 and a two-hundred day simple moving average of $2.17. The firm has a market capitalization of $26.77 million, a price-to-earnings ratio of -0.53 and a beta of 4.86. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. Independence Contract Drilling has a 52 week low of $1.61 and a 52 week high of $3.45.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Independence Contract Drilling from a “hold” rating to a “sell” rating in a report on Friday, April 26th.

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.