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Independence Contract Drilling Inc (NYSE:ICD) has been downgraded to Equal Weight in a statement by Morgan Stanley earlier today.

Morgan Stanley has downgraded Independence Contract Drilling Inc (NYSE:ICD) to Equal Weight in a statement released on 06/21/2017.

Boasting a price of $3.67, Independence Contract Drilling Inc (NYSE:ICD) traded -0.30% lower on the day. With the last stock price close down -20.00% from the two hundred day average, compared with the S&P 500 Index which has increased 0.04% over the date range. Independence Contract Drilling Inc has recorded a 50-day average of $3.36 and a two hundred day average of $4.21. Volume of trade was up over the average, with 273,422 shares of ICD changing hands over the typical 146,538

Performance Chart

Independence Contract Drilling Inc (NYSE:ICD)

With a total market value of $0, Independence Contract Drilling Inc has with a one year low of $2.91 and a one year high of $7.30 .

A total of 11 equity analysts have released a ratings update on ICD. One equity analyst rating the company a strong buy, eight equity analysts rating the company a buy, two equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $6.64.

Brief Synopsis About Independence Contract Drilling Inc (NYSE:ICD)

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. The company was founded in 2011 and is headquartered in Houston, Texas.

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