Media stories about Independence Contract Drilling (NYSE:ICD) have been trending somewhat positive on Thursday, Accern Sentiment reports. The research firm ranks the sentiment of media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Independence Contract Drilling earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned news headlines about the oil and gas company an impact score of 46.3879432219606 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

Shares of Independence Contract Drilling (NYSE ICD) traded down 4.05% during midday trading on Thursday, reaching $3.32. 10,821 shares of the company’s stock were exchanged. Independence Contract Drilling has a 12-month low of $2.91 and a 12-month high of $7.30. The company’s market cap is $125.09 million. The stock’s 50 day moving average price is $3.48 and its 200 day moving average price is $4.31.

Independence Contract Drilling (NYSE:ICD) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). The business had revenue of $21.29 million during the quarter, compared to the consensus estimate of $21.24 million. Independence Contract Drilling had a negative return on equity of 8.62% and a negative net margin of 40.75%. The business’s revenue was up 40.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) EPS. Equities analysts anticipate that Independence Contract Drilling will post ($0.48) earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Independence Contract Drilling from a “hold” rating to a “sell” rating in a research note on Wednesday. Cowen and Company reissued a “buy” rating and issued a $5.00 price target on shares of Independence Contract Drilling in a research note on Friday, August 11th. Morgan Stanley downgraded shares of Independence Contract Drilling from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $8.50 to $5.00 in a research note on Wednesday, June 21st. ValuEngine downgraded shares of Independence Contract Drilling from a “hold” rating to a “sell” rating in a research note on Friday, May 26th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $7.00 price target on shares of Independence Contract Drilling in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Independence Contract Drilling currently has an average rating of “Hold” and an average target price of $6.58.

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Independence Contract Drilling Company Profile

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 ShaleDriller rigs to optimize the development of various oil and gas properties in the Permian Basin. As of December 31, 2016, it had 12 rigs.

Insider Buying and Selling by Quarter for Independence Contract Drilling (NYSE:ICD)

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