Independence Contract Drilling (ICD) Gets a Hold Rating from RBC Capital


In a report issued on December 18, Kurt Hallead from RBC Capital maintained a Hold rating on Independence Contract Drilling (ICD), with a price target of $4.00. The company’s shares closed last Monday at $3.19, close to its 52-week low of $1.08.

According to TipRanks.com, Hallead is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -9.5% and a 32.6% success rate. Hallead covers the Industrial Goods sector, focusing on stocks such as Oceaneering International, Oil States International, and Ncs Multistage Holdings.

Independence Contract Drilling has an analyst consensus of Hold, with a price target consensus of $4.00.

See today’s analyst top recommended stocks >>

Independence Contract Drilling’s market cap is currently $19.76M and has a P/E ratio of -0.10. The company has a Price to Book ratio of 0.07.

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ICD in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Independence Contract Drilling, Inc. engages in the provision of land-based contract drilling services for oil and natural gas producers. It involves in owning an established rig manufacturing business and proprietary rig designs. The company was founded by Philip A. Choyce and Byron A. Dunn on November 4, 2011 and is headquartered in Houston, TX.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts