In a report issued on November 3, Kurt Hallead from RBC Capital maintained a Hold rating on Independence Contract Drilling (ICD), with a price target of $3.00. The company’s shares closed last Thursday at $2.34, close to its 52-week low of $1.08.
According to TipRanks.com, Hallead ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -19.0% and a 24.6% success rate. Hallead covers the Industrial Goods sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Oil States International.
Independence Contract Drilling has an analyst consensus of Hold, with a price target consensus of $3.00.
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The company has a one-year high of $24.20 and a one-year low of $1.08. Currently, Independence Contract Drilling has an average volume of 456.1K.
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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.
