Independence Contract Drilling (ICD) Given a $8.00 Price Target at B. Riley
B. Riley set a $8.00 target price on Independence Contract Drilling (NYSE:ICD) in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the oil and gas company’s stock.
Several other brokerages also recently issued reports on ICD. ValuEngine raised Independence Contract Drilling from a strong sell rating to a sell rating in a research report on Friday, November 10th. FBR & Co reaffirmed a buy rating on shares of Independence Contract Drilling in a research report on Tuesday, October 31st. Royal Bank of Canada set a $5.00 price target on Independence Contract Drilling and gave the company a buy rating in a research report on Thursday, December 21st. Zacks Investment Research raised Independence Contract Drilling from a sell rating to a hold rating in a research report on Wednesday, January 17th. Finally, Cowen set a $6.00 price target on Independence Contract Drilling and gave the company a buy rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $6.00.
Shares of Independence Contract Drilling (NYSE ICD) opened at $4.26 on Monday. The stock has a market capitalization of $156.86, a PE ratio of -5.46 and a beta of 2.85. Independence Contract Drilling has a 1 year low of $2.72 and a 1 year high of $6.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.01 and a quick ratio of 1.84.
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Independence Contract Drilling 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 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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