Independence Contract Drilling, Inc. (NYSE:ICD – Get Free Report) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.54 and traded as low as $1.27. Independence Contract Drilling shares last traded at $1.27, with a volume of 21,438 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on Independence Contract Drilling in a report on Tuesday. They issued a “hold” rating on the stock.
Read Our Latest Research Report on Independence Contract Drilling
Independence Contract Drilling Stock Down 2.3 %
Independence Contract Drilling (NYSE:ICD – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.23. Independence Contract Drilling had a negative net margin of 24.20% and a negative return on equity of 11.44%. The business had revenue of $46.64 million during the quarter, compared to analysts’ expectations of $41.64 million. During the same quarter in the prior year, the company posted $0.14 EPS. On average, equities analysts forecast that Independence Contract Drilling, Inc. will post -2.51 EPS for the current year.
Institutional Trading of Independence Contract Drilling
Several large investors have recently modified their holdings of ICD. Tejara Capital Ltd lifted its holdings in Independence Contract Drilling by 21.9% in the 3rd quarter. Tejara Capital Ltd now owns 439,944 shares of the oil and gas company’s stock worth $1,320,000 after buying an additional 79,029 shares during the period. CastleKnight Management LP raised its holdings in shares of Independence Contract Drilling by 54.5% during the fourth quarter. CastleKnight Management LP now owns 540,554 shares of the oil and gas company’s stock valued at $1,324,000 after acquiring an additional 190,679 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Independence Contract Drilling during the first quarter valued at approximately $29,000. 29.38% of the stock is 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.
Featured Stories
- Five stocks we like better than Independence Contract Drilling
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- The Most Important Warren Buffett Stock for Investors: His Own
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- What is a Secondary Public Offering? What Investors Need to Know
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
Receive News & Ratings for Independence Contract Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Contract Drilling and related companies with MarketBeat.com's FREE daily email newsletter.