The stock of Independence Contract Drilling Inc (NYSE:ICD) is a huge mover today! About 192,321 shares traded hands. Independence Contract Drilling Inc (NYSE:ICD) has risen 20.67% since April 27, 2016 and is uptrending. It has outperformed by 15.45% the S&P500.
The move comes after 5 months positive chart setup for the $188.78M company. It was reported on Nov, 30 by Barchart.com. We have $5.81 PT which if reached, will make NYSE:ICD worth $7.55 million more.
Analysts await Independence Contract Drilling Inc (NYSE:ICD) to report earnings on February, 16. They expect $-0.14 EPS, down 250.00% or $0.10 from last year’s $-0.04 per share. After $-0.17 actual EPS reported by Independence Contract Drilling Inc for the previous quarter, Wall Street now forecasts -17.65% EPS growth.
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 11 analyst reports since August 10, 2015 according to StockzIntelligence Inc. As per Wednesday, September 9, the company rating was downgraded by Tudor Pickering. The firm has “Buy” rating by DA Davidson given on Thursday, September 15. Zacks downgraded Independence Contract Drilling Inc (NYSE:ICD) on Monday, August 10 to “Buy” rating. The company was maintained on Friday, October 30 by RBC Capital Markets. On Friday, February 19 the stock rating was maintained by RBC Capital Markets with “Outperform”. Tudor Pickering upgraded the stock to “Buy” rating in Tuesday, November 29 report. The firm has “Overweight” rating given on Tuesday, April 19 by Morgan Stanley. The firm has “Outperform” rating given on Wednesday, February 24 by FBR Capital.
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 Q2 2016. Its down 3.97, from 5.8 in 2016Q1. The ratio is negative, 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.
Wells Fargo And Com Mn reported 13,136 shares or 0% of all its holdings. Credit Suisse Ag last reported 0% of its portfolio in the stock. Bnp Paribas Arbitrage Sa has 1,170 shares for 0% of their US portfolio. Blackrock Investment Mgmt Lc owns 121,738 shares or 0% of their US portfolio. Dc Capital Advsr Ltd accumulated 0.1% or 30,000 shares. Spark Inv Mgmt Ltd Com reported 106,400 shares or 0.05% of all its holdings. Deutsche Bancorp Ag has 189,235 shares for 0% of their US portfolio. Lime Rock Limited Partnership holds 63.29% or 2.12 million shares in its portfolio. Vanguard Inc owns 1.06M shares or 0% of their US portfolio. Renaissance Technologies Limited Com has 312,000 shares for 0% of their US portfolio. Deere & Communication has 0.03% invested in the company for 88,984 shares. Financial Bank Of Montreal Can has invested 0% of its portfolio in Independence Contract Drilling Inc (NYSE:ICD). Anchorage Capital Gru Limited Liability Company, a New York-based fund reported 127,500 shares. Teachers reported 42,463 shares or 0% of all its holdings. Bb&T Securities Ltd Liability Company last reported 0% of its portfolio in the stock.
Insider Transactions: Since August 17, 2016, the stock had 1 buy, and 1 sale for $4.46 million net activity. SPROTT RESOURCE CORP sold 1.00M shares worth $4.50M. $40,430 worth of Independence Contract Drilling Inc (NYSE:ICD) was bought by BATES THOMAS R JR.
More notable recent Independence Contract Drilling Inc (NYSE:ICD) news were published by: Prnewswire.com which released: “Independence Contract Drilling, Inc. to Participate in the Jefferies 2016 …” on November 22, 2016, also Prnewswire.com with their article: “Independence Contract Drilling, Inc. Announces Timing of Third Quarter 2016 …” published on October 06, 2016, Prnewswire.com published: “Independence Contract Drilling, Inc. Prices Upsized Public Offering of Common …” on April 21, 2016. More interesting news about Independence Contract Drilling Inc (NYSE:ICD) were released by: Prnewswire.com and their article: “Independence Contract Drilling, Inc.’s Edward S. Jacob, III to Retire at the …” published on June 10, 2016 as well as Prnewswire.com‘s news article titled: “Independence Contract Drilling, Inc. Reports Financial Results For The Third …” with publication date: October 26, 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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