Independence Contract Drilling, which can be found using ticker (ICD) have now 4 confirmed analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The range between the high target price and low target price is between 7 and 4.7 and has a mean target at $5.92. Given that the stocks previous close was at $3.15 this indicates there is a potential upside of 87.9%. It’s also worth noting that there is a 50 day moving average of $4.01 while the 200 day moving average is $3.54. The total market capitalization for the company now stands at $42m. Company Website: https://www.icdrilling.com
The potential market cap would be $78m based on the market consensus.
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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 in the Permian Basin, the Haynesville Shale, and the Eagle Ford Shale. Its fleet consists of 24 rigs. Independence Contract Drilling was incorporated in 2011 and is headquartered in Houston, Texas.
The company is not paying dividends at this time.
