The EVP & CFO of Independence Contract Drilling (NYSE: ICD) is Buying Shares

By Carrie Williams

Today, the EVP & CFO of Independence Contract Drilling (ICDResearch Report), Philip Choyce, bought shares of ICD for $9,100.

In addition to Philip Choyce, 4 other ICD executives reported Buy trades in the last month. This recent transaction increases Philip Choyce’s holding in the company by 1.72% to a total of $547K.

See today’s analyst top recommended stocks >>

Based on Independence Contract Drilling’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $52.88 million and GAAP net loss of $12.86 million. In comparison, last year the company earned revenue of $28.44 million and had a GAAP net loss of $3.94 million. The company has a one-year high of $4.56 and a one-year low of $0.80. Currently, Independence Contract Drilling has an average volume of 215.96K.

In the last 30 days, insiders have sold $13.09K worth of ICD shares and purchased $33.13K worth of ICD shares. The insider sentiment on Independence Contract Drilling has been neutral according to 23 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.

Company insider trades’ information is brought to you by the DailyInsider, a proprietary algorithm that analyzes insider trading activity to detect the most attractive trading opportunities. To subscribe to the DailyInsider visit this page.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Independence Contract Drilling, Inc. engages in the provision of land-based contract drilling services for oil and natural gas producers. It involves in owning an established rig manufacturing business and proprietary rig designs. The company was founded by Philip A. Choyce and Byron A. Dunn on November 4, 2011 and is headquartered in Houston, TX.