Independence Contract Drilling Inc (NYSE:ICD) Director Thomas R. Bates, Jr. acquired 25,000 shares of Independence Contract Drilling stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average cost of $1.86 per share, with a total value of $46,500.00. Following the transaction, the director now owns 151,110 shares of the company’s stock, valued at approximately $281,064.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
ICD opened at $1.82 on Tuesday. The firm has a market cap of $144.14 million, a P/E ratio of -10.71 and a beta of 2.20. Independence Contract Drilling Inc has a 1 year low of $1.76 and a 1 year high of $5.05. The company has a quick ratio of 2.09, a current ratio of 2.16 and a debt-to-equity ratio of 0.34.
Independence Contract Drilling (NYSE:ICD) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Independence Contract Drilling had a negative return on equity of 0.35% and a negative net margin of 10.27%. The firm had revenue of $60.36 million during the quarter, compared to analysts’ expectations of $60.15 million. As a group, analysts predict that Independence Contract Drilling Inc will post 0.02 earnings per share for the current year.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Independence Contract Drilling from a “strong-buy” rating to a “hold” rating in a research report on Friday. ValuEngine cut Independence Contract Drilling from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Finally, B. Riley set a $8.00 price objective on Independence Contract Drilling and gave the company a “buy” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Independence Contract Drilling currently has an average rating of “Hold” and a consensus target price of $5.81.
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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. The company constructs, owns, and operates a fleet of pad-optimal ShaleDriller rigs that are engineered and designed to optimize the development of various oil and natural gas properties in the Permian Basin and the Haynesville Shale.
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