Media stories about Independence Contract Drilling (NYSE:ICD) have been trending somewhat positive recently, according to Accern. The research firm ranks the sentiment of news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Independence Contract Drilling earned a daily sentiment score of 0.11 on Accern’s scale. Accern also assigned news headlines about the oil and gas company an impact score of 46.705586066043 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Independence Contract Drilling (NYSE:ICD) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.13). The firm had revenue of $21.29 million during the quarter, compared to analyst estimates of $21.24 million. Independence Contract Drilling had a negative return on equity of 8.62% and a negative net margin of 40.75%. The business’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share.
ICD has been the subject of a number of analyst reports. Cowen and Company restated a “buy” rating and issued a $5.00 price target on shares of Independence Contract Drilling in a research note on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and issued a $7.00 price target on shares of Independence Contract Drilling in a research note on Thursday, July 20th. Morgan Stanley downgraded Independence Contract Drilling from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $8.50 to $5.00 in a research note on Wednesday, June 21st. Zacks Investment Research upgraded Independence Contract Drilling from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, ValuEngine upgraded Independence Contract Drilling from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $6.13.
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Independence Contract Drilling Company Profile
Independence Contract Drilling, Inc provides land-based contract drilling services for oil and natural gas producers in the United States. The company constructs, owns, and operates a fleet of ShaleDriller rigs to optimize the development of various oil and gas properties in the Permian Basin. As of December 31, 2016, it had 12 rigs.
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