Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Independence Contract Drilling (ICD) Share Price
News coverage about Independence Contract Drilling (NYSE:ICD) has trended somewhat positive on Monday, Accern reports. The research firm rates the sentiment of media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Independence Contract Drilling earned a daily sentiment score of 0.20 on Accern’s scale. Accern also gave news coverage about the oil and gas company an impact score of 46.4018017100341 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Shares of Independence Contract Drilling (NYSE:ICD) opened at $3.68 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.84 and a current ratio of 2.01. Independence Contract Drilling has a 1-year low of $2.72 and a 1-year high of $7.30.
Independence Contract Drilling (NYSE:ICD) last posted its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.02). Independence Contract Drilling had a negative net margin of 34.87% and a negative return on equity of 8.28%. The company had revenue of $23.45 million for the quarter, compared to the consensus estimate of $23.54 million. During the same quarter last year, the business earned ($0.17) earnings per share. Independence Contract Drilling’s quarterly revenue was up 62.1% on a year-over-year basis. analysts anticipate that Independence Contract Drilling will post -0.53 earnings per share for the current fiscal year.
Several analysts recently commented on the company. ValuEngine upgraded Independence Contract Drilling from a “strong sell” rating to a “sell” rating in a research report on Friday, November 10th. Royal Bank Of Canada decreased their price target on Independence Contract Drilling from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, September 29th. Cowen and Company set a $5.00 price target on Independence Contract Drilling and gave the company a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered Independence Contract Drilling from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Finally, FBR & Co reissued a “buy” rating on shares of Independence Contract Drilling in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $6.13.
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About Independence Contract Drilling
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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