5 Best Oil Stocks to Buy According to Analysts

2. Independence Contract Drilling Inc (NYSE:ICD)

Average Analyst Price Target: $4.5

Upside Potential: 171.0843373%

Texas-based Independence Contract Drilling Inc (NYSE:ICD) is another penny stock in our list of the best oil stocks to buy according to analysts. The stock has an upside potential of 171% based on Wall Street analyst price target. Earlier this month Independence Contract Drilling Inc (NYSE:ICD) posted strong Q1 results. Its adjusted EPS in the period came in at -$0.50, beating estimates by $0.23. Revenue totaled $46.6 million, surpassing estimates by $4.96 million.