Independence Contract Drilling, Inc. (ICD) Stock Rating Reaffirmed by FBR & Co

Independence Contract Drilling, Inc. (NYSE:ICD)‘s stock had its “buy” rating reissued by equities researchers at FBR & Co in a research note issued on Tuesday.

Other analysts have also recently issued research reports about the company. Cowen and Company set a $5.00 target price on Independence Contract Drilling and gave the stock a “buy” rating in a report on Wednesday, October 18th. Royal Bank Of Canada reiterated a “buy” rating and set a $7.00 target price on shares of Independence Contract Drilling in a report on Thursday, July 20th. Zacks Investment Research upgraded Independence Contract Drilling from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, ValuEngine upgraded Independence Contract Drilling from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $6.13.

Independence Contract Drilling (NYSE:ICD) last issued its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). Independence Contract Drilling had a negative return on equity of 8.19% and a negative net margin of 34.87%. The firm had revenue of $23.45 million for the quarter, compared to analysts’ expectations of $23.54 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. The firm’s revenue for the quarter was up 62.1% compared to the same quarter last year.

ILLEGAL ACTIVITY NOTICE: “Independence Contract Drilling, Inc. (ICD) Stock Rating Reaffirmed by FBR & Co” was published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/11/02/independence-contract-drilling-inc-icd-stock-rating-reaffirmed-by-fbr-co.html.

Large investors have recently modified their holdings of the company. BB&T Securities LLC boosted its holdings in Independence Contract Drilling by 1.0% in the 2nd quarter. BB&T Securities LLC now owns 40,300 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 400 shares during the period. California State Teachers Retirement System boosted its holdings in Independence Contract Drilling by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 60,763 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 500 shares during the period. American International Group Inc. boosted its holdings in Independence Contract Drilling by 7.0% in the 1st quarter. American International Group Inc. now owns 18,453 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 1,214 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Independence Contract Drilling by 12.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 60,414 shares of the oil and gas company’s stock worth $235,000 after acquiring an additional 6,917 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Independence Contract Drilling by 23.1% in the 2nd quarter. Rhumbline Advisers now owns 36,824 shares of the oil and gas company’s stock worth $143,000 after acquiring an additional 6,920 shares during the period. Institutional investors and hedge funds own 80.80% of the company’s stock.

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.

Analyst Recommendations for Independence Contract Drilling (NYSE:ICD)

What are top analysts saying about Independence Contract Drilling Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Independence Contract Drilling Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit