Split History
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Independence Contract Drilling provides land-based contract drilling services for oil and natural gas producers targeting resource plays in the United States. Co. owns and operates a fleet comprised of drilling rigs. Co.'s rig fleet includes 29 marketed AC powered (AC) rigs and a number of additional rigs requiring conversions or upgrades in order to meet its AC pad-optimal specifications. Co.'s rigs are operating in the Permian Basin, the Haynesville Shale and the Eagle Ford Shale. According to our ICD split history records, Independence Contract Drilling has had 1 split.
ICD split history picture
Independence Contract Drilling (ICD) has 1 split in our ICD split history database. The split for ICD took place on March 12, 2020. This was a 1 for 20 reverse split, meaning for each 20 shares of ICD owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 50 share position following the split.

When a company such as Independence Contract Drilling conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the ICD split history from start to finish, an original position size of 1000 shares would have turned into 50 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Independence Contract Drilling shares, starting with a $10,000 purchase of ICD, presented on a split-history-adjusted basis factoring in the complete ICD split history. ICD split adjusted history picture

Growth of $10,000.00
Without Dividends Reinvested

Start date: 08/08/2014
End date: 05/28/2020
Start price/share: $221.20
End price/share: $6.18
Dividends collected/share: $0.00
Total return: -97.21%
Average Annual Total Return: -45.99%
Starting investment: $10,000.00
Ending investment: $279.35
Years: 5.81
Date Ratio
03/12/20201 for 20
ICD is categorized under the Energy sector; below are some other companies in the same sector that also have a history of stock splits:

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