Memorial Resource Development Corp Receives Consensus Rating of “Buy” from Analysts (NYSE:MRD)
Memorial Resource Development Corp (NYSE:MRD) has earned a consensus rating of “Buy” from the nine analysts that are currently covering the company, AnalystRatings.NET reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $31.00.
A number of analysts have recently weighed in on MRD shares. Analysts at Bank of America initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday. They set a “buy” rating on the stock. Separately, analysts at Howard Weil initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday. They set an “outperform” rating and a $33.00 price target on the stock. Finally, analysts at Raymond James initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday. They set a “strong-buy” rating on the stock.
Memorial Resource Development Corp (NYSE:MRD) traded up 2.80% during mid-day trading on Tuesday, hitting $26.07. The stock had a trading volume of 1,816,118 shares. Memorial Resource Development Corp has a one year low of $21.07 and a one year 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 $5.018 billion and a price-to-earnings 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.