Independence Contract Drilling (NYSE:ICD) released its quarterly earnings results on Thursday. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03), Bloomberg Earnings reports. The firm had revenue of $52.88 million during the quarter, compared to the consensus estimate of $51.70 million. Independence Contract Drilling had a negative net margin of 13.58% and a negative return on equity of 1.00%.
NYSE ICD traded up $0.09 during midday trading on Friday, hitting $1.21. The company had a trading volume of 185,408 shares, compared to its average volume of 424,417. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.16 and a quick ratio of 2.09. The business has a 50-day moving average of $1.46. Independence Contract Drilling has a twelve month low of $1.05 and a twelve month high of $5.05.
In related news, Director Thomas R. Bates, Jr. acquired 25,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was purchased at an average cost of $1.86 per share, with a total value of $46,500.00. Following the acquisition, the director now directly owns 151,110 shares of the company’s stock, valued at $281,064.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 34,300 shares of company stock valued at $70,152 over the last ninety days. Insiders own 3.10% of the company’s stock.
About Independence Contract Drilling
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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