Viking Fund Management adds Independence Contract Drilling Inc (ICD) to its portfolio

Independence Contract Drilling Inc (ICD) : Viking Fund Management added new position in Independence Contract Drilling Inc during the most recent quarter end. The investment management firm now holds 390,000 shares of Independence Contract Drilling Inc which is valued at $2,191,800 , the company said in a statement filed on Oct 13, 2016 with the SEC.Independence Contract Drilling Inc makes up approximately 0.35% of Viking Fund Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in ICD in the latest quarter, The investment management firm added 861 additional shares and now holds a total of 2,031 shares of Independence Contract Drilling Inc which is valued at $10,947.

Independence Contract Drilling Inc opened for trading at $5.6 and hit $5.81 on the upside on Tuesday, eventually ending the session at $5.63, with a gain of 0.54% or 0.03 points. The heightened volatility saw the trading volume jump to 3,13,701 shares. Company has a market cap of $212 M.

On the company’s financial health, Independence Contract Drilling Inc reported $-0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.10. The company had revenue of $15.20 million for the quarter, compared to analysts expectations of $14.89 million. The company’s revenue was down -28.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.03 EPS.

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