ICD stock: buy or sell?
October 18th, 2019
Independence Contract Drilling, Inc. provides land-based contract drilling services for oil and natural gas producers in the United States.
Should I buy ICD stock?Trading stocks requires experience and discipline, and your buying and selling decisions must come following a methodology. Following a trading plan helps to make decisions easier, quicker and with less hesitations. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best.
None of our preferred buy setups matches with Independence Contract Drilling stock situation right now, therefore this is not a suitable entry point.
|New all-time high||No|
|New 52 week high||No|
|Price crossing up 200d MA||No|
|100d MA crossing up 200d MA||No|
Is Independence Contract Drilling stock a buy?
Everyday, hundreds of stock ratings are posted by financial analysts to indicate a particular stock's attractiveness.At Stocks2.com, we gathered 4 ratings published for ICD stock in the last month.
|Date||Analyst / Broker||Previous rating||Current rating|
|2019-9-25||Royal Bank of Canada||Outperform||Sector Perform|
|2019-7-12||Morgan Stanley||n/a||Equal Weight|
|2019-1-16||Capital One Financial||Overweight||Equal Weight|
ICD stock analysis
Shares of Independence Contract Drilling ended on October/18 at $0.83 and gained a nice 1.22%.
Independence Contract Drilling closed on October 18th at $0.83 and gained a nice 1.22%.
After sliding a spooky -34.57% in a week last week, Independence Contract Drilling closed this week at $0.83 and soared a good 2.47%. Early September ICD boosted a dazzling 32.93% in just one week.
Since late October 2018, when ICD stock price broke down the 40-weeks moving avarage line, it slid $-3.55 per share (-81.05%). Trading stocks that are below the 40-weeks (that is, 200-days) moving average line is not recommended by many experts, as it indicates that the stock has not enough institutional support.
ICD stock price history
ICD IPO was on August 8th, 2014 at $11.00 per share1. Since then, ICD stock declined a -92.50%, with a yearly average of -18.50%.
1: Adjusted price after possible price splits or reverse-splits.
ICD stock historical price chart
ICD stock reached 52-week highs at $4.56, and all-time highs 2014-09-02 with a price of 12.29.
ICD stock price target is $3.70Nobody can reliably foresee how stock prices may evolve in the future. However, banks and other financial institutions analysts, with the help of lots of data and algorithms do their best to predict the stock prices movement. We do not recommend to follow these stock price predictions without a critical thinking from your side, as their accuracy is usually low. For the last 30 days we found 3 price targets for ICD stock:
|Date||Analyst / Broker||Action||Previous target||Current target||Diff|
|2019-9-25||Royal Bank of Canada||Downgrades||$4.00||$2.00||-50%|
|2019-8-2||B. Riley||Lowers Target||$5.75||$5.00||-13%|
|2019-7-12||Morgan Stanley||Lowers Target||$5.50||$4.00||-27.3%|
Financials and fundamental analysis
Earnings date and Earnings per ShareAfter presenting its last earnings report on March, Independence Contract Drilling . As soon as we get its actual EPS from the earnings report, we will update this review.
|Quarter||Reporting date||Estimated EPS||Actual EPS||Surprise|
Annual financial resultsIn 2018, Independence Contract Drilling annual sales climbed an amazing 58.44% to $142.61 million USD from $90.01 marked in 2017. When comparing 2018 vs 2017, similarly, profit margin (that is, the net income divided by revenues) rocketed a 12.98% to -14.02%.
|2013||$43 M||-||$-2.00 M-4.7%||-|
|2014||$70 M||64.40%||$-28.17 M-40.0%||1,308.40%|
|2015||$88 M||25.69%||$-7.88 M-8.9%||-72.02%|
|2016||$70 M||-20.76%||$-22.18 M-31.7%||181.45%|
|2017||$90 M||28.47%||$-24.30 M-27.0%||9.56%|
|2018||$143 M||58.44%||$-19.99 M-14.0%||-17.72%|
Quarterly financial resultsIndependence Contract Drilling reported $62.79 M in revenues for 2018-Q4, a 120.78% up compared to previous quarter. Reported quarter earnings marked $-8.60 M with a profit margin of -13.69%. Profit margin stayed steady a 0.15% compared to previous quarter when profit margin was -13.84%. When comparing revenues to same quarter last year, Independence Contract Drilling sales marked an astounding growth and boosted a 150.74%. Looking back to recent quarterly results, Independence Contract Drilling posted 7 negative quarters in a row.
|2017-Q1||$20 M||-||$-6.27 M-31.0%||-|
|2017-Q2||$21 M||5.19%||$-6.30 M-29.6%||0.48%|
|2017-Q3||$23 M||10.12%||$-5.98 M-25.5%||-5.08%|
|2017-Q4||$25 M||6.81%||$-5.75 M-22.9%||-3.93%|
|2018-Q1||$26 M||2.34%||$-4.15 M-16.2%||-27.83%|
|2018-Q2||$26 M||0.50%||$-3.31 M-12.9%||-20.09%|
|2018-Q3||$28 M||10.43%||$-3.94 M-13.8%||18.83%|
|2018-Q4||$63 M||120.78%||$-8.60 M-13.7%||118.36%|
Independence Contract Drilling ownershipWhen you are planning to invest in shares of a company, it's worth to overview its ownership structure.
Management staff in all public traded companies that hold equity is required to report every transaction to the SEC. For Independence Contract Drilling, 8.26% of all outstanding shares are owned by its staff.
Bearish positions for ICD stock account 0.00%, no big difference from last month.
The following table compares ownership indicators for other stocks related to Independence Contract Drilling:
|Market cap||$63.9 M||$599.7 M||$311.4 M|
|Total shares||77.0 M||363.5 M||293.8 M|
|Float shares||49.2 M||339.2 M||291.4 M|
|- Institutional holdings (%)||81.6%||88.4%||0.0%|
|- Insider holdings (%)||8.3%||7.0%||0.0%|
|Shares in short selling||0.0%||0.0%||0.0%|
|Friday, October 18th, 2019|
|Day range||$0.81 - $0.89|
|Average true range||$0.11|
|50d mov avg||$1.18|
|100d mov avg||$1.35|
|200d mov avg||$2.21|
Independence Contract Drilling performanceTo better understand Independence Contract Drilling performance you must compare its gains with other related stocks in same sector or industry. In the following table, we compare Independence Contract Drilling performance to Nabors Industries and Precision Drilling: