Headlines about Independence Contract Drilling (NYSE:ICD) have been trending somewhat positive on Sunday, Accern Sentiment Analysis reports. Accern identifies positive and negative media coverage by analyzing more than twenty million news and blog sources. 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 coverage optimism score of 0.19 on Accern’s scale. Accern also gave headlines about the oil and gas company an impact score of 46.4232951167984 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Shares of Independence Contract Drilling stock traded up $0.01 during trading on Friday, hitting $3.80. 173,071 shares of the stock traded hands, compared to its average volume of 125,115. The firm has a market cap of $144.39 million, a P/E ratio of -7.17 and a beta of 2.63. The company has a current ratio of 1.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.26. Independence Contract Drilling has a 52-week low of $2.72 and a 52-week high of $5.48.
Independence Contract Drilling (NYSE:ICD) last announced its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $25.75 million for the quarter, compared to analyst estimates of $25.70 million. Independence Contract Drilling had a negative return on equity of 7.34% and a negative net margin of 19.21%. analysts forecast that Independence Contract Drilling will post -0.25 earnings per share for the current year.
A number of analysts have weighed in on the company. ValuEngine upgraded Independence Contract Drilling from a “sell” rating to a “hold” rating in a research note on Tuesday, May 1st. Zacks Investment Research lowered Independence Contract Drilling from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Morgan Stanley increased their target price on Independence Contract Drilling from $5.00 to $5.50 and gave the stock an “equal weight” rating in a research note on Monday, August 6th. Finally, B. Riley set a $8.00 target price on Independence Contract Drilling and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $5.95.
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 pad-optimal ShaleDriller rigs that are engineered and designed to optimize the development of various oil and natural gas properties in the Permian Basin.
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