Advertisements
Skip to content

Independence Contract Drilling Inc (ICD) gains today, but could easily fall tomorrow

Independence Contract Drilling Inc (ICD) currently trades at $9.56 and has grown by 50% today. ICD went up $3.16 from the previous closing price of $6.25. The high forecast for Independence Contract Drilling Inc is $20.00 and the low is $1.50. The company’s market cap is $37.00 million with a 52 week high of $64.40 and a 52 week low of $1.08. ICD has changed in price by -47.08 per share in the last 12 months. The company recently announced the fall in demand for contract drilling services in the US due to weak crude prices. To contain operating costs and SG&A, there will be pay cuts, reduction in headcount and suspension of all cash-based incentives which will save $5M in annual SG&A and reduce daily operating costs by $600-1000.

Advertisements

Independence Contract Drilling Inc has a weak EPS of -16.2. This means the company lost $-16.2 per share after paying dividends, this can indicate that the stock is a risky investment. EPS is calculated as a company’s profit divided by the outstanding shares of its common stock. The resulting number serves as an indicator of a company’s profitability. It is common for a company to report EPS that is adjusted for extraordinary items and potential share dilution. Based on this information, investorsQ rates this stock 4 out of 10. We give it this rating based on current information written in this article.

Advertisements

About ICD:
Independence Contract Drilling is a premium integrated onshore drilling services provider fielding best in class, state of the art, AC, programmable, BiFuel, multidirectional walking rigs. Our company has sourced leaders in the industry and utilized leading edge technology to launch an organization that is playing a critical role in reducing the nation’s dependency on foreign sources of oil and gas. Our equipment is designed and crewed to effectively address our clients’ most demanding drilling campaigns, accelerate their cash flows and reduce their well costs. At Independence Contract Drilling, Inc., we are committed to the responsible development of vital U.S. energy resources.

Advertisements

Leave a Reply

%d bloggers like this: