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Independence Contract Drilling Inc is engaged in providing land-based contract drilling services for oil and natural gas producers. The company constructs its own and operates a premium land rig fleet. It develops and assembles its ShaleDriller series rig which is used for the development of oil and gas properties. The company's customers for contract drilling services in the United States include oil and natural gas companies, independent oil and natural gas companies, as well as various small to mid-sized publicly traded and privately held oil and gas companies.
Independence Contract Drilling trades on the NYSE stock market under the symbol ICD.
As of April 24, 2024, ICD stock price declined to $1.85 with 28,675 million shares trading.
ICD has a beta of 0.50, meaning it tends to be less sensitive to market movements. ICD has a correlation of 0.03 to the broad based SPY ETF.
ICD has a market cap of $25.19 million. This is considered a Sub-Micro Cap stock.
Last quarter Independence Contract Drilling reported $46 million in Revenue and -$.61 earnings per share. This beat revenue expectation by $1 million and missed earnings estimates by -$.33.
In the last 3 years, ICD stock traded as high as $7.40 and as low as $1.61.
The top ETF exchange traded funds that ICD belongs to (by Net Assets): VTI, VXF, DFAT, IWC, DFAS.
ICD has underperformed the market in the last year with a price return of -38.1% while the SPY ETF gained +24.2%. ICD has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -11.5% and -3.1%, respectively, while the SPY returned +4.6% and -2.7%, respectively.
ICD support price is $1.83 and resistance is $2.01 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ICD stock will trade within this expected range on the day.