13GD Alert: Sprott Resource Partnership Just Opened Huge Independence Contract Drilling, Inc Position

13GD Alert: Sprott Resource Partnership Just Opened Huge Independence Contract Drilling, Inc Position

The New Sprott Resource Partnership Holding in Independence Contract Drilling, Inc

Sprott Resource Partnership filed with the SEC SC 13D/A form for Independence Contract Drilling, Inc. The form can be accessed here: 000095014216004527. As reported in Sprott Resource Partnership’s form, the filler as of late owns 5.2% or 1,948,304 shares of the -company.

Independence Contract Drilling, Inc stake is a new one for the and it was filed because of activity on September 29, 2016. We feel this shows Sprott Resource Partnership’s positive view for the stock.

Reasons Why Sprott Resource Partnership Bought – Independence Contract Drilling, Inc Stock

Item 4.Purpose of Transaction

No material change




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Independence Contract Drilling, Inc Institutional Sentiment

Latest Security and Exchange filings show 48 investors own Independence Contract Drilling, Inc. The institutional ownership in Q3 2015 is low, at 45.92% of the outstanding shares. This is increased by 4552065 the total institutional shares. 17267666 were the shares owned by these institutional investors. In total 3 funds opened new Independence Contract Drilling, Inc stakes, 17 increased stakes. There were 7 that closed positions and 11 reduced them.

Magee Thomson Investment Partners Llc is an institutional investor bullish on Independence Contract Drilling, Inc, owning 504 shares as of Q3 2015 for less than 0.01% of its portfolio. Anchorage Capital Group Llc owns 127500 shares or 0.02% of its portfolio. Y8 Oceanic Investment Management Ltd have 1.51% of their stock portfolio for 811065 shares. Further, Claar Advisors Llc reported stake worth 0.79% of its US stock portfolio. The CT Lime Rock Management Lp owns 2119500 shares. Independence Contract Drilling, Inc is 23.37% of the manager’s US portfolio.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Insitutional Activity: The institutional sentiment increased to 5.8 in Q2 2016. Its up 4.51, from 1.29 in 2016Q1. The ratio increased, as 6 funds sold all Independence Contract Drilling Inc shares owned while 4 reduced positions. 26 funds bought stakes while 32 increased positions. They now own 51.21 million shares or 276.96% more from 13.58 million shares in 2016Q1.

Amer Inc holds 17,258 shares or 0% of its portfolio. The Georgia-based Voya Inv Lc has invested 0% in Independence Contract Drilling Inc (NYSE:ICD). Van Eck accumulated 1.14 million shares or 0.03% of the stock. Glg L P last reported 0.07% of its portfolio in the stock. Jennison Limited Liability Company has 2.16 million shares for 0.01% of their US portfolio. State Street Corp has 283,756 shares for 0% of their US portfolio. Nationwide Fund accumulated 77,498 shares or 0% of the stock. Barclays Public Ltd Co reported 2 shares or 0% of all its holdings. Tfs Capital Lc owns 128,114 shares or 0.13% of their US portfolio. Deutsche Bank & Trust Ag last reported 0% of its portfolio in the stock. Moreover, Tudor Invest Corporation Et Al has 0% invested in Independence Contract Drilling Inc (NYSE:ICD) for 35,065 shares. Invesco Ltd holds 0% of its portfolio in Independence Contract Drilling Inc (NYSE:ICD) for 38,694 shares. Anchorage Cap Gp Limited Liability Corp accumulated 127,500 shares or 0.02% of the stock. Spark Limited Com, a New York-based fund reported 106,400 shares. Credit Suisse Ag last reported 38,378 shares in the company.

Insider Transactions: Since August 17, 2016, the stock had 0 insider purchases, and 1 sale for $4.50 million net activity. $4.50M worth of Independence Contract Drilling Inc (NYSE:ICD) shares were sold by SPROTT RESOURCE CORP.

Analysts await Independence Contract Drilling Inc (NYSE:ICD) to report earnings on November, 3. They expect $-0.11 EPS, down 120.00% or $0.06 from last year’s $-0.05 per share. After $-0.07 actual EPS reported by Independence Contract Drilling Inc for the previous quarter, Wall Street now forecasts 57.14% negative EPS growth.

About 98,264 shares traded hands. Independence Contract Drilling Inc (NYSE:ICD) has risen 36.36% since February 29, 2016 and is uptrending. It has outperformed by 24.15% the S&P500.

Independence Contract Drilling Inc (NYSE:ICD) Ratings Coverage

Out of 5 analysts covering Independence Contract Drilling (NYSE:ICD), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $9 is the highest target while $5 is the lowest. The $7 average target is 32.83% above today’s ($5.27) stock price. Independence Contract Drilling has been the topic of 10 analyst reports since August 10, 2015 according to StockzIntelligence Inc. FBR Capital maintained Independence Contract Drilling Inc (NYSE:ICD) rating on Wednesday, February 24. FBR Capital has “Outperform” rating and $8 price target. The stock of Independence Contract Drilling Inc (NYSE:ICD) earned “Accumulate” rating by Tudor Pickering on Wednesday, September 9. The stock has “Overweight” rating given by Morgan Stanley on Tuesday, April 19. On Friday, February 19 the stock rating was maintained by RBC Capital Markets with “Outperform”. As per Monday, August 10, the company rating was downgraded by Zacks. The firm has “Outperform” rating given on Friday, October 30 by RBC Capital Markets. The stock has “Buy” rating given by DA Davidson on Thursday, September 15.

More recent Independence Contract Drilling Inc (NYSE:ICD) news were published by: Prnewswire.com which released: “Independence Contract Drilling, Inc.’s Edward S. Jacob, III to Retire at the …” on June 10, 2016. Also Nasdaq.com published the news titled: “Why the Earnings Streak Will Continue for Independence Contract Drilling (ICD)” on September 16, 2016. Benzinga.com‘s news article titled: “Independence Contract Drilling Plunges 20% As Company Prices Up-Sized Share …” with publication date: April 21, 2016 was also an interesting one.

According to Zacks Investment Research, “Independence Contract Drilling Inc. provides land drilling services for oil and natural gas producers primarily in the United States. The Company provides the US E&P industry a fleet of ShaleDriller (TM) rigs for drilling and development of shale and tight oil basins in North America. Independence Contract Drilling, Inc. is based in Houston, Texas.”

ICD Company Profile

Independence Contract Drilling, Inc., incorporated on November 4, 2011, provides land contract drilling services for oil and natural gas producers targeting unconventional resource plays in the United States. The Firm constructs, owns and operates a fleet consisting of ShaleDriller rigs that are specifically engineered and designed to optimize the development of its customers’ gas and oil properties. The Company’s rigs operate in the Permian Basin and over one rig operates in the Eaglebine region. The Firm has approximately 14 rigs, including over 10 completed 200 series ShaleDriller rigs equipped with its integrated omni-directional walking system and approximately two non-walking rigs that are scheduled for conversion. Every ShaleDriller rig in its fleet is an approximately 1500-horsepower (hp), AC programmable rig (AC rig) designed to be fast-moving between drilling sites and is equipped with top drives, automated tubular handling systems and blowout preventer (BOP) handling systems. Over 12 of its 14 rigs are equipped with bi-fuel solutions (operates on either diesel or a natural gas-diesel blend).

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