Independence Contract Drilling (NYSE:ICD) Shares Down 8.9%


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Shares of Independence Contract Drilling, Inc. (NYSE:ICD) dropped 8.9% during trading on Tuesday . The stock traded as low as $5.95 and last traded at $6.84. Approximately 510,588 shares traded hands during trading, an increase of 26% from the average daily volume of 404,928 shares. The stock had previously closed at $7.51.

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.02 and a quick ratio of 1.95. The firm’s 50-day moving average price is $4.26 and its 200 day moving average price is $3.19. The firm has a market cap of $42.24 million, a P/E ratio of -0.31 and a beta of 6.98.

In other news, Director Msd Capital L. P sold 9,652 shares of Independence Contract Drilling stock in a transaction that occurred on Wednesday, December 9th. The stock was sold at an average price of $3.82, for a total transaction of $36,870.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Msd Capital L. P sold 8,690 shares of Independence Contract Drilling stock in a transaction that occurred on Tuesday, December 29th. The shares were sold at an average price of $2.99, for a total value of $25,983.10. The disclosure for this sale can be found here. Insiders sold 98,764 shares of company stock worth $367,615 in the last three months. 3.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in shares of Independence Contract Drilling during the fourth quarter valued at approximately $40,000. GSA Capital Partners LLP acquired a new position in shares of Independence Contract Drilling during the fourth quarter valued at approximately $64,000. Squarepoint Ops LLC increased its stake in shares of Independence Contract Drilling by 104.9% during the fourth quarter. Squarepoint Ops LLC now owns 25,258 shares of the oil and gas company’s stock valued at $74,000 after acquiring an additional 12,933 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Independence Contract Drilling during the third quarter valued at approximately $106,000. Finally, FMR LLC grew its position in Independence Contract Drilling by 14.9% in the first quarter. FMR LLC now owns 689,455 shares of the oil and gas company’s stock worth $1,910,000 after buying an additional 89,500 shares during the last quarter. Institutional investors and hedge funds own 27.68% of the company’s stock.

Independence Contract Drilling Company Profile (NYSE:ICD)

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 accelerate its clients' production profiles and cash flows from their technically demanding and economically impactful oil and gas properties in the Permian Basin, the Haynesville Shale, and the Eagle Ford Shale.

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