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Stock analysts at Howard Weil began coverage on shares of Memorial Resource Development Corp (NYSE:MRD) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $33.00 price target on the stock. Howard Weil’s target price indicates a potential upside of 30.13% from the company’s current price.

A number of other analysts have also recently weighed in on MRD. 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. Separately, analysts at BMO Capital Markets initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday. They set an “outperform” rating and a $32.00 price target on the stock. Finally, analysts at Citigroup Inc. initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday. They set a “buy” rating and a $30.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Memorial Resource Development Corp has an average rating of “Buy” and an average price target of $31.00.

Shares of Memorial Resource Development Corp (NYSE:MRD) traded up 2.35% on Tuesday, hitting $25.955. 2,187,554 shares of the company’s stock traded hands. Memorial Resource Development Corp has a 1-year low of $21.07 and a 1-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 $4.996 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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