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Equities research analysts at Barclays assumed coverage on shares of Memorial Resource Development Corp (NYSE:MRD) in a research note issued to investors on Tuesday. The firm set an “overweight” rating and a $33.00 price target on the stock. Barclays’ target price suggests a potential upside of 27.17% from the stock’s previous close.

Memorial Resource Development Corp (NYSE:MRD) traded up 2.56% during mid-day trading on Tuesday, hitting $26.01. The stock had a trading volume of 3,512,165 shares. Memorial Resource Development Corp has a 52-week low of $21.07 and a 52-week high of $26.94. The stock has a 50-day moving average of $24.25 and a 200-day moving average of $24.25. The company has a market cap of $5.007 billion and a P/E ratio of 81.81.

Memorial Resource Development Corp. is an independent natural gas and oil company focused on the exploitation, development, and acquisition of natural gas, NGL and oil properties with a its activity in the Terryville Complex of North Louisiana, where the Company is targeting over pressured, liquids-rich natural gas opportunities in multiple zones in the Cotton Valley formation.

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