Independence Contract Drilling, with ticker code (ICD) now have 4 market analysts covering the stock. The analyst consensus now points to a rating of ‘Buy’. The range between the high target price and low target price is between 7 and 4.7 and has a mean target at $5.92. Given that the stocks previous close was at $3.06 this now indicates there is a potential upside of 93.5%. The day 50 moving average is $3.40 and the 200 day moving average is $3.50. The market cap for the company is $43m. You can visit the company’s website by visiting: https://www.icdrilling.com
The potential market cap would be $83m based on the market consensus.
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 pad-optimal, superspec AC powered rigs, and additional idle AC rigs in the Permian Basin and the Haynesville Shale. Its fleet consists of 26 rigs. Independence Contract Drilling, Inc. was incorporated in 2011 and is headquartered in Houston, Texas.
The company is not paying dividends at this time.
