Independence Contract Drilling, Inc. (NYSE:ICD) – Analysts at Capital One Financial Corporation increased their Q3 2017 earnings estimates for Independence Contract Drilling in a report issued on Tuesday. Capital One Financial Corporation analyst L. Lemoine now expects that the oil and gas company will post earnings of ($0.14) per share for the quarter, up from their previous forecast of ($0.15). Capital One Financial Corporation also issued estimates for Independence Contract Drilling’s Q4 2017 earnings at ($0.10) EPS, FY2017 earnings at ($0.52) EPS, Q1 2018 earnings at ($0.06) EPS, FY2018 earnings at ($0.08) EPS and FY2019 earnings at ($1.00) EPS.

Independence Contract Drilling (NYSE:ICD) last announced its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.02). The company had revenue of $23.45 million during the quarter, compared to analysts’ expectations of $23.54 million. Independence Contract Drilling had a negative net margin of 34.87% and a negative return on equity of 8.28%. The business’s revenue for the quarter was up 62.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) earnings per share. TRADEMARK VIOLATION WARNING: “Capital One Financial Corporation Weighs in on Independence Contract Drilling, Inc.’s Q3 2017 Earnings (ICD)” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://www.watchlistnews.com/capital-one-financial-corporation-weighs-in-on-independence-contract-drilling-inc-s-q3-2017-earnings-icd/1674431.html.

A number of other equities analysts also recently issued reports on ICD. Zacks Investment Research downgraded Independence Contract Drilling from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $7.00 price target on shares of Independence Contract Drilling in a report on Thursday, July 20th. Cowen and Company reaffirmed a “buy” rating and issued a $5.00 price target on shares of Independence Contract Drilling in a report on Friday, August 11th. ValuEngine downgraded Independence Contract Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. Finally, FBR & Co reissued a “buy” rating on shares of Independence Contract Drilling in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $6.13.

Several hedge funds have recently bought and sold shares of the company. BB&T Securities LLC boosted its holdings in shares of Independence Contract Drilling by 1.0% in the second quarter. BB&T Securities LLC now owns 40,300 shares of the oil and gas company’s stock valued at $156,000 after acquiring an additional 400 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Independence Contract Drilling by 0.8% in the second quarter. California State Teachers Retirement System now owns 60,763 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 500 shares during the period. American International Group Inc. boosted its holdings in shares of Independence Contract Drilling by 7.0% in the first quarter. American International Group Inc. now owns 18,453 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 1,214 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Independence Contract Drilling by 12.9% in the second quarter. Goldman Sachs Group Inc. now owns 60,414 shares of the oil and gas company’s stock valued at $235,000 after acquiring an additional 6,917 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Independence Contract Drilling by 23.1% in the second quarter. Rhumbline Advisers now owns 36,824 shares of the oil and gas company’s stock valued at $143,000 after acquiring an additional 6,920 shares during the period. 80.80% of the stock is owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Independence Contract Drilling (NYSE:ICD)

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