Independence Contract Drilling (ICD) Given Media Sentiment Score of 0.07

News articles about Independence Contract Drilling (NYSE:ICD) have been trending somewhat positive recently, according to Accern Sentiment. The research group rates the sentiment of press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Independence Contract Drilling earned a media sentiment score of 0.07 on Accern’s scale. Accern also assigned media stories about the oil and gas company an impact score of 46.8201087312963 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

Shares of Independence Contract Drilling (NYSE ICD) traded up $0.16 on Monday, hitting $4.91. 89,400 shares of the stock traded hands, compared to its average volume of 146,389. Independence Contract Drilling has a 52 week low of $2.72 and a 52 week high of $7.25. The company has a market capitalization of $186.49, a price-to-earnings ratio of -6.29 and a beta of 2.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.01 and a quick ratio of 1.84.

Independence Contract Drilling (NYSE:ICD) last released its quarterly earnings results on Tuesday, October 31st. The oil and gas company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $23.45 million for the quarter, compared to the consensus estimate of $23.54 million. Independence Contract Drilling had a negative return on equity of 8.28% and a negative net margin of 34.87%. Independence Contract Drilling’s revenue was up 62.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. sell-side analysts expect that Independence Contract Drilling will post -0.53 EPS for the current year.

ICD has been the subject of a number of research analyst reports. FBR & Co reaffirmed a “buy” rating on shares of Independence Contract Drilling in a research note on Tuesday, October 31st. Royal Bank of Canada set a $5.00 price objective on shares of Independence Contract Drilling and gave the company a “buy” rating in a report on Thursday, December 21st. Zacks Investment Research upgraded shares of Independence Contract Drilling from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. B. Riley decreased their price objective on shares of Independence Contract Drilling from $8.75 to $7.75 and set a “buy” rating for the company in a report on Wednesday, November 22nd. Finally, ValuEngine upgraded shares of Independence Contract Drilling from a “strong sell” rating to a “sell” rating in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $5.94.

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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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