ClariVest Asset Management LLC acquired a new position in shares of Independence Contract Drilling Inc (NYSE:ICD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,924 shares of the oil and gas company’s stock, valued at approximately $69,000.
A number of other large investors have also bought and sold shares of ICD. Marshall Wace LLP purchased a new position in Independence Contract Drilling in the third quarter worth about $86,000. Jefferies Group LLC purchased a new position in shares of Independence Contract Drilling during the third quarter valued at approximately $145,000. Rhumbline Advisers raised its holdings in shares of Independence Contract Drilling by 55.4% during the fourth quarter. Rhumbline Advisers now owns 48,699 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 17,368 shares during the last quarter. Marquette Asset Management LLC raised its holdings in shares of Independence Contract Drilling by 9.6% during the fourth quarter. Marquette Asset Management LLC now owns 61,507 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 5,412 shares during the last quarter. Finally, Putnam Investments LLC purchased a new position in shares of Independence Contract Drilling during the third quarter valued at approximately $261,000. 45.70% of the stock is currently owned by institutional investors and hedge funds.
In other Independence Contract Drilling news, Director Msd Partners, L.P. bought 9,198 shares of Independence Contract Drilling stock in a transaction on Monday, December 24th. The stock was acquired at an average cost of $2.97 per share, with a total value of $27,318.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Credit Opportunity Master Msd bought 46,798 shares of Independence Contract Drilling stock in a transaction on Thursday, December 27th. The shares were acquired at an average cost of $2.97 per share, with a total value of $138,990.06. The disclosure for this purchase can be found here. Insiders have bought 75,996 shares of company stock valued at $223,908 over the last three months. 12.60% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on ICD shares. B. Riley reissued a “buy” rating and set a $8.00 price objective on shares of Independence Contract Drilling in a report on Tuesday, November 6th. Zacks Investment Research raised shares of Independence Contract Drilling from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Thursday, February 14th. Finally, Capital One Financial cut shares of Independence Contract Drilling from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $5.94.
ICD opened at $3.45 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.72 and a quick ratio of 1.58. Independence Contract Drilling Inc has a twelve month low of $2.70 and a twelve month high of $5.32. The company has a market cap of $264.92 million, a PE ratio of -6.51 and a beta of 2.15.
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Independence Contract Drilling Company Profile
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.
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