Independence Contract Drilling (NYSE:ICD – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
Independence Contract Drilling Stock Down 3.6 %
NYSE:ICD traded down $0.07 during midday trading on Friday, reaching $1.87. The company had a trading volume of 20,674 shares, compared to its average volume of 63,699. The firm has a market capitalization of $28.55 million, a price-to-earnings ratio of -0.70 and a beta of 4.91. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.85. The stock’s fifty day simple moving average is $1.84 and its 200-day simple moving average is $2.20. Independence Contract Drilling has a 12-month low of $1.61 and a 12-month high of $3.45.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.15). The business had revenue of $45.83 million for the quarter, compared to analysts’ expectations of $43.89 million. Independence Contract Drilling had a negative return on equity of 6.12% and a negative net margin of 17.94%. On average, sell-side analysts anticipate that Independence Contract Drilling will post -2.59 earnings per share for the current fiscal year.
Institutional Trading of 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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