Independence Contract Drilling (ICD) to release results on Thursday
Drilling Independence Contract (NYSE: ICD – Get a rating) will release its quarterly earnings data before the market opens on Thursday, August 4. Parties interested in listening to the company’s conference call can do so using this link.
Drilling Independence Contract (NYSE: ICD – Get a rating) last released its quarterly results on Thursday, May 5. The oil and gas company reported EPS ($0.99) for the quarter. The company had revenue of $34.99 million in the quarter. Independence Contract Drilling had a negative return on equity of 26.88% and a negative net margin of 58.56%.
Independence Contract Drilling Stock Performance
NYSE: ICD opened at $3.45 on Thursday. The company has a fifty-day simple moving average of $3.43 and a two-hundred-day simple moving average of $3.82. The company has a market capitalization of $46.98 million, a price-earnings ratio of -0.48 and a beta of 5.59. The company has a quick ratio of 1.15, a current ratio of 1.18 and a leverage ratio of 0.80. Independence Contract Drilling has a 52-week low of $2.42 and a 52-week high of $7.40.
Changes to analyst ratings
Separately, StockNews.com downgraded shares of Independence Contract Drilling from a “hold” to a “sell” rating in a Tuesday, May 3 research note.
Hedge funds weigh in on drilling independence contracts
A number of institutional investors and hedge funds have recently changed their holdings of deposit takers. Acadian Asset Management LLC acquired a new position in shares of Independence Contract Drilling during the first quarter worth $32,000. State Street Corp increased its stake in shares of Independence Contract Drilling by 65.9% in the first quarter. State Street Corp now owns 24,483 shares of the oil and gas company worth $101,000 after buying 9,721 more shares last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Independence Contract Drilling during the first quarter worth $106,000. Dimensional Fund Advisors LP increased its stake in shares of Independence Contract Drilling by 126.2% during the first quarter. Dimensional Fund Advisors LP now owns 114,996 shares of the oil and gas company worth $475,000 after buying an additional 64,156 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Independence Contract Drilling by 5.1% during the first quarter. Vanguard Group Inc. now owns 217,911 shares of the oil and gas company worth $900,000 after buying an additional 10,600 shares last quarter. Institutional investors and hedge funds hold 33.76% of the company’s shares.
About Independent Contract Drilling
Independence Contract Drilling, Inc provides onshore contract drilling services to oil and natural gas producers in the United States. The company builds, owns and operates a fleet of ShaleDriller rigs optimal for pads in the Permian Basin, Haynesville Shale and Eagle Ford Shale. Its fleet consists of 24 platforms.
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