Independence Contract (ICD) Receiving Somewhat Favorable Media Coverage, Study Shows

Media coverage about Independence Contract (NYSE:ICD) has been trending somewhat positive recently, Accern reports. Accern rates the sentiment of news coverage by monitoring more than 20 million news and blog 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 daily sentiment score of 0.10 on Accern’s scale. Accern also gave news coverage about the oil and gas company an impact score of 46.2186803406097 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

Shares of NYSE ICD traded down $0.15 during midday trading on Friday, reaching $3.88. The stock had a trading volume of 68,767 shares, compared to its average volume of 94,622. The company has a market capitalization of $147.82, a P/E ratio of -7.32 and a beta of 2.78. Independence Contract has a twelve month low of $2.72 and a twelve month high of $5.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.47 and a current ratio of 1.62.

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

ICD has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Independence Contract from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. Royal Bank of Canada set a $5.00 target price on shares of Independence Contract and gave the stock a “buy” rating in a research report on Thursday, December 21st. Cowen set a $6.00 target price on shares of Independence Contract and gave the stock a “buy” rating in a research report on Thursday, January 11th. TheStreet upgraded shares of Independence Contract from a “d” rating to a “c-” rating in a research report on Monday, February 26th. Finally, B. Riley set a $8.00 target price on shares of Independence Contract and gave the stock a “buy” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.25.

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Independence Contract 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 pad-optimal ShaleDriller rigs that are engineered and designed to optimize the development of various oil and natural gas properties in the Permian Basin.

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