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Independent Oil and Gas, INDEPENDENT OIL AND GAS (EQU:ID O.N) with a market capitalization of $643.40 million, is a small-cap company that explores, develops, produces, and sells oil and natural gas in the United States. Established in 2001 and located in Denver, Colorado, the corporation focuses on acquiring mature, long-life, low-cost, proven oil and gas assets.
Over the last 12 months, Independent Oil and Gas' stock price has ranged from 32.00 dollars to 55.94 dollars. The company's shares closed at 44.84 dollars on Friday, August 12, 2ff22, and had a price-to-earnings ratio of 4.46. The stock price increased by 1.19% while the broader market fell.
In the first quarter of 2022, Independent Oil and Gas' revenue increased by 62.69% year over year to $124.3 million, surpassing analyst predictions of $112.3 million. Net income increased to $70.5 million, and earnings per share increased by 37.5% to $1.65, outperforming analyst projections of $1.23.
For the second quarter of 2022, analysts anticipate Independent Oil and Gas revenue to increase 74.2% to $142.2 million. Earnings per share are expected to rise 53.8% to $2.02.
Future revenue growth may be constrained due to Independent Oil and Gas' limited cash reserves of $2.7M. However, its improving margin, which rose from 13% to 23% over the past year, suggests otherwise. During the same period, the company's earnings per share grew 338%.
The company has a share buyback program and intends to buy back up to $50 million worth of its common stock through December 2022.
Independent Oil and Gas is excellent at generating cash and has consistently reinvested that cash well, as evidenced by its 14% return on equity. F Wall street analysts expect Independent Oil and Gas' revenue to rise 29% year over year and earnings per share to increase 49% over the next 12 months.
The technical chart demonstrates a positive picture for Independent Oil and Gas. Despite falling from its highs, the stock is still at a reasonable price and has recently made a new high. The ascending angle of the moving averages is bullish. A solid upward trend is indicated by the price's position above the moving average. Recent MACD and Stochastic signals are positive.
Overall, Independent Oil and Gas is a firm that has shown consistent revenue and earnings growth and has a solid balance sheet.