In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Independence Contract Drilling Inc. (NYSE:ICD) reported that 4d Global Energy Advisors Sas has picked up 3,114,613 of common stock as of 2017-02-23.
The acquisition brings the aggregate amount owned by 4d Global Energy Advisors Sas to a total of 3,114,613 representing a 8.36% stake in the company.
For those not familiar with the company, Independence Contract Drilling, Inc. (ICD) is a premium integrated onshore drilling services provider fielding best in class, state of the art, AC, programmable, BiFuel, multidirectional walking rigs. Our company has sourced leaders in the industry and utilized leading edge technology to launch an organization that is playing a critical role in reducing the nation’s dependency on foreign sources of oil and gas. Our equipment is designed and crewed to effectively address our clients’ most demanding drilling campaigns, accelerate their cash flows and reduce their well costs. At Independence Contract Drilling, Inc., we are committed to the responsible development of vital U.S. energy resources.
A glance at Independence Contract Drilling Inc. (NYSE:ICD)’s key stats reveals a current market capitalization of 214.36 million based on 37.61 million shares outstanding and a price at last close of $5.70 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-09-14, Bates picked up 10,000 at a purchase price of $4.04. This brings their total holding to 40,122 as of the date of the filing.
On the sell side, the most recent transaction saw Sprott unload 1,000,000 shares at a sale price of $4.50. This brings their total holding to 3,525,000.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Independence Contract Drilling Inc. (NYSE:ICD) as things move forward to see if its progress aligns with these transactions.
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