corporate overview independence contract drilling was formed in 2011 as a vertically integrated premium land drilling services provider. from its wholly owned api certified manufacturing facility in houston, texas independence contract drilling provides e&p operators the shaledriller series rigs. these rigs are fast moving, programmable ac rigs custom designed to be best in class for the development of shale plays and other areas where completions require long horizontal sections. the shaledriller is based on a proven rig design with units operating in all major us shale plays as well as africa, indonesia and asia. driven by superior design characteristics, shaledriller rigs provide a compelling value proposition to our customers. the fine control of key drilling parameters offered by shaledriller proprietary ac software code allows same-class wells to be drilled in almost half the time required by a mechanical rig and 20% faster than with dc equipment. combined with the shaledrill
Company profile
Ticker
ICD
Exchange
Website
CEO
J. Anthony Gallegos
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
ICD stock data
Latest filings (excl ownership)
10-K
2023 FY
Annual report
28 Feb 24
8-K
Independence Contract Drilling, Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2023
28 Feb 24
8-K
Regulation FD Disclosure
2 Nov 23
10-Q
2023 Q3
Quarterly report
1 Nov 23
8-K
Third quarter 2023 Highlights
1 Nov 23
8-K
Regulation FD Disclosure
16 Aug 23
8-K
Changes in Registrant's Certifying Accountant
11 Aug 23
10-Q
2023 Q2
Quarterly report
3 Aug 23
8-K
Second quarter 2023 Highlights
3 Aug 23
8-K
Submission of Matters to a Vote of Security Holders
15 Jun 23
Transcripts
ICD
Earnings call transcript
2023 Q4
28 Feb 24
ICD
Earnings call transcript
2023 Q3
1 Nov 23
ICD
Earnings call transcript
2023 Q2
3 Aug 23
ICD
Earnings call transcript
2023 Q1
9 May 23
ICD
Earnings call transcript
2022 Q4
2 Mar 23
ICD
Earnings call transcript
2022 Q3
1 Nov 22
ICD
Earnings call transcript
2022 Q2
6 Aug 22
ICD
Earnings call transcript
2022 Q1
7 May 22
ICD
Earnings call transcript
2021 Q4
7 Mar 22
ICD
Earnings call transcript
2021 Q3
2 Nov 21
Latest ownership filings
4/A
John A. Jr. Gallegos
19 Mar 24
4/A
John A. Jr. Gallegos
19 Mar 24
4/A
John A. Jr. Gallegos
19 Mar 24
4
VINCENT J CEBULA
19 Mar 24
4
Change in insider ownership
8 Mar 24
4
John A. Jr. Gallegos
29 Feb 24
4
PHILIP A CHOYCE
29 Feb 24
4
Scott A. Keller
29 Feb 24
4
Philip Dalrymple
29 Feb 24
4
Kathrine Kokenes
29 Feb 24
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 6.04 mm | 6.04 mm | 6.04 mm | 6.04 mm | 6.04 mm | 6.04 mm |
Cash burn (monthly) | (no burn) | 126.83 k | 2.81 mm | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | n/a | 865.53 k | 19.20 mm | n/a | n/a | n/a |
Cash remaining | n/a | 5.18 mm | -13.16 mm | n/a | n/a | n/a |
Runway (months of cash) | n/a | 40.8 | -4.7 | n/a | n/a | n/a |
Institutional ownership, Q2 2023
28.6% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 34 |
Opened positions | 3 |
Closed positions | 7 |
Increased positions | 7 |
Reduced positions | 11 |
13F shares | Current |
---|---|
Total value | 11.59 bn |
Total shares | 4.36 mm |
Total puts | 23.40 k |
Total calls | 7.00 k |
Total put/call ratio | 3.3 |
Largest owners | Shares | Value |
---|---|---|
MSD Partners | 1.70 mm | $4.64 bn |
Glendon Capital Management | 511.48 k | $1.40 bn |
FRFHF Fairfax Financial Holdings LTD/ Can | 390.29 k | $1.07 bn |
Tejara Capital | 360.92 k | $985.30 mm |
Vanguard | 319.63 k | $872.60 mm |
CastleKnight Management | 211.96 k | $578.65 mm |
Dimensional Fund Advisors | 191.35 k | $522.39 mm |
Ancora Advisors | 107.47 k | $293.39 mm |
Geode Capital Management | 94.19 k | $257.13 mm |
Bridgeway Capital Management | 74.38 k | $203.06 mm |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
18 Mar 24 | Vincent J Cebula | Common Stock | Option exercise | Acquire M | No | No | 0 | 5,501 | 0.00 | 77,502 |
18 Mar 24 | Vincent J Cebula | Phantom Stock Unit Common Stock | Option exercise | Dispose M | No | No | 0 | 2,750 | 0.00 | 2,751 |
18 Mar 24 | Vincent J Cebula | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 5,501 | 0.00 | 5,501 |
27 Feb 24 | John A. Jr. Gallegos | Common Stock | Grant | Acquire A | No | No | 0 | 192,500 | 0.00 | 609,788 |
27 Feb 24 | John A. Jr. Gallegos | Phantom Stock Unit Common Stock | Grant | Acquire A | No | No | 0 | 96,250 | 0.00 | 96,250 |
27 Feb 24 | Philip A Choyce | Common Stock | Grant | Acquire A | No | No | 0 | 141,525 | 0.00 | 301,925 |
27 Feb 24 | Philip A Choyce | Phantom Stock Unit Common Stock | Grant | Acquire A | No | No | 0 | 47,175 | 0.00 | 94,350 |
27 Feb 24 | Scott A. Keller | Common Stock | Grant | Acquire A | No | No | 0 | 61,334 | 0.00 | 178,551 |
27 Feb 24 | Scott A. Keller | Phantom Stock Unit Common Stock | Grant | Acquire A | No | No | 0 | 30,666 | 0.00 | 30,666 |
News
Independence Contract Drilling, Inc. Engages Piper Sandler & Co. As Financial Advisor To Strategic Alternatives Committee
21 Mar 24
Independence Contract Q4 Adj. EPS $(0.61) Misses $(0.28) Estimate, Sales $45.83M Beat $44.46M Estimate
28 Feb 24
Earnings Scheduled For February 28, 2024
28 Feb 24
Preview: Independence Contract's Earnings
27 Feb 24