Independence Contract Drilling, – Consensus Indicates Potential -32.3% Downside

Broker Ratings

Independence Contract Drilling, with ticker code (ICD) have now 3 analysts covering the stock. The analyst consensus points to a rating of ‘Hold’. The target price ranges between 6 and 1 calculating the mean target price we have 3.33. Now with the previous closing price of 4.92 this would imply there is a potential downside of -32.3%. There is a 50 day moving average of 5.09 while the 200 day moving average is 3.47. The market cap for the company is $31m. Visit the company website at: http://www.icdrilling.com

Independence Contract Drilling 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 accelerate its clients’ production profiles and cash flows from their technically demanding and economically impactful oil and gas properties in the Permian Basin, the Haynesville Shale, and the Eagle Ford Shale. Its fleet consists of 29 rigs. The company was founded in 2011 and is headquartered in Houston, Texas.

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