The stock of Independence Contract Drilling Inc (NYSE:ICD) is a huge mover today! About 72,919 shares traded hands. Independence Contract Drilling Inc (NYSE:ICD) has risen 11.11% since April 18, 2016 and is uptrending. It has outperformed by 6.68% the S&P500.
The move comes after 6 months positive chart setup for the $188.03M company. It was reported on Nov, 18 by Barchart.com. We have $12.34 PT which if reached, will make NYSE:ICD worth $268.88 million more.
Independence Contract Drilling Inc (NYSE:ICD) Ratings Coverage
Out of 5 analysts covering Independence Contract Drilling (NYSE:ICD), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Independence Contract Drilling has been the topic of 10 analyst reports since August 10, 2015 according to StockzIntelligence Inc. DA Davidson initiated Independence Contract Drilling Inc (NYSE:ICD) on Thursday, September 15 with “Buy” rating. Tudor Pickering downgraded the stock to “Accumulate” rating in Wednesday, September 9 report. Morgan Stanley maintained Independence Contract Drilling Inc (NYSE:ICD) on Tuesday, April 19 with “Overweight” rating. The stock has “Outperform” rating given by FBR Capital on Wednesday, February 24. The firm has “Outperform” rating given on Friday, February 19 by RBC Capital Markets. The firm earned “Buy” rating on Monday, August 10 by Zacks. The stock has “Outperform” rating given by RBC Capital Markets on Friday, October 30.
According to Zacks Investment Research, “Independence Contract Drilling Inc. provides land drilling services for oil and natural gas producers primarily in the United States. The Company provides the US E&P industry a fleet of ShaleDriller (TM) rigs for drilling and development of shale and tight oil basins in North America. Independence Contract Drilling, Inc. is based in Houston, Texas.”
Insitutional Activity: The institutional sentiment decreased to 1.83 in 2016 Q2. Its down 3.97, from 5.8 in 2016Q1. The ratio dived, as 6 funds sold all Independence Contract Drilling Inc shares owned while 4 reduced positions. 26 funds bought stakes while 32 increased positions. They now own 51.21 million shares or 276.96% more from 13.58 million shares in 2016Q1.
The Massachusetts-based Putnam Invs Ltd Liability Corp has invested 0.01% in Independence Contract Drilling Inc (NYSE:ICD). Manufacturers Life Ins The owns 22,516 shares or 0% of their US portfolio. Blackrock Institutional Trust Na accumulated 0% or 234,565 shares. Invesco Limited has 0% invested in the company for 38,694 shares. New York State Common Retirement Fund last reported 0% of its portfolio in the stock. The Massachusetts-based Rhumbline Advisers has invested 0% in Independence Contract Drilling Inc (NYSE:ICD). Art Advsr Lc last reported 0.01% of its portfolio in the stock. Moreover, Tfs Capital Limited Liability Company has 0.13% invested in Independence Contract Drilling Inc (NYSE:ICD) for 128,114 shares. Deere & Com, a Illinois-based fund reported 88,984 shares. Morgan Stanley holds 0% of its portfolio in Independence Contract Drilling Inc (NYSE:ICD) for 175,173 shares. The Connecticut-based Lime Rock Management Ltd Partnership has invested 63.29% in Independence Contract Drilling Inc (NYSE:ICD). Nationwide Fund owns 77,498 shares or 0% of their US portfolio. Vanguard Grp has 1.06 million shares for 0% of their US portfolio. State Street Corp has 0% invested in the company for 283,756 shares. Renaissance Techs Limited Liability Co last reported 312,000 shares in the company.
Insider Transactions: Since August 17, 2016, the stock had 1 insider buy, and 1 sale for $4.46 million net activity. $4.50 million worth of shares were sold by SPROTT RESOURCE CORP on Wednesday, August 17. $40,430 worth of Independence Contract Drilling Inc (NYSE:ICD) was bought by BATES THOMAS R JR on Monday, November 7.
More important recent Independence Contract Drilling Inc (NYSE:ICD) news were published by: Prnewswire.com which released: “Independence Contract Drilling, Inc. Announces Timing of Third Quarter 2016 …” on October 06, 2016, also Prnewswire.com published article titled: “Independence Contract Drilling, Inc. Prices Upsized Public Offering of Common …”, Prnewswire.com published: “Independence Contract Drilling, Inc. Reports Financial Results For The Third …” on October 26, 2016. More interesting news about Independence Contract Drilling Inc (NYSE:ICD) was released by: Prnewswire.com and their article: “Independence Contract Drilling, Inc.’s Edward S. Jacob, III to Retire at the …” with publication date: June 10, 2016.
ICD Company Profile
Independence Contract Drilling, Inc., incorporated on November 4, 2011, provides land contract drilling services for oil and natural gas producers targeting unconventional resource plays in the United States. The Firm constructs, owns and operates a fleet consisting of ShaleDriller rigs that are specifically engineered and designed to optimize the development of its customers’ gas and oil properties. The Company’s rigs operate in the Permian Basin and over one rig operates in the Eaglebine region. The Firm has approximately 14 rigs, including over 10 completed 200 series ShaleDriller rigs equipped with its integrated omni-directional walking system and approximately two non-walking rigs that are scheduled for conversion. Every ShaleDriller rig in its fleet is an approximately 1500-horsepower (hp), AC programmable rig (AC rig) designed to be fast-moving between drilling sites and is equipped with top drives, automated tubular handling systems and blowout preventer (BOP) handling systems. Over 12 of its 14 rigs are equipped with bi-fuel solutions (operates on either diesel or a natural gas-diesel blend).
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