Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Independence Contract (NYSE:ICD) Share Price

Media headlines about Independence Contract (NYSE:ICD) have been trending somewhat positive on Thursday, according to Accern Sentiment Analysis. The research group rates the sentiment of news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Independence Contract earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave media coverage about the oil and gas company an impact score of 45.8755952428355 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Independence Contract stock opened at $4.41 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.47 and a current ratio of 1.62. Independence Contract has a 12 month low of $2.72 and a 12 month high of $5.95. The firm has a market cap of $157.35, a price-to-earnings ratio of -6.78 and a beta of 2.79.

Independence Contract (NYSE:ICD) last posted its quarterly earnings results on Monday, February 26th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.01). Independence Contract had a negative return on equity of 8.24% and a negative net margin of 27.00%. The company had revenue of $25.04 million for the quarter, compared to analyst estimates of $24.43 million. During the same period last year, the company earned ($0.14) earnings per share. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. research analysts predict that Independence Contract will post -0.28 earnings per share for the current year.

Several equities analysts have issued reports on ICD shares. Zacks Investment Research cut shares of Independence Contract from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. Royal Bank of Canada set a $5.00 price objective on shares of Independence Contract and gave the company a “buy” rating in a research note on Thursday, December 21st. B. Riley lowered their price target on shares of Independence Contract from $8.75 to $7.75 and set a “buy” rating on the stock in a research note on Wednesday, November 22nd. Cowen set a $6.00 price target on shares of Independence Contract and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, TheStreet raised shares of Independence Contract from a “d” rating to a “c-” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.25.

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About Independence Contract

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.

Insider Buying and Selling by Quarter for Independence Contract (NYSE:ICD)

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