Independence Contract Drilling, with ticker code (ICD) have now 2 analysts covering the stock with the consensus suggesting a rating of ‘Strong_Buy’. The target price ranges between 7 and 4.58 and has a mean target at 5.79. Given that the stocks previous close was at 2.92 this indicates there is a potential upside of 98.3%. There is a 50 day moving average of 3.25 and the 200 moving average now moves to 3.62. The company has a market capitalisation of $42m. You can visit the company’s website by visiting: https://www.icdrilling.com
The potential market cap would be $83m based on the market concensus.
Independence Contract Drilling 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 ShaleDriller rigs in the Permian Basin, the Haynesville Shale, and the Eagle Ford Shale. Its fleet consists of 24 rigs. Independence Contract Drilling was incorporated in 2011 and is headquartered in Houston, Texas.
