Memorial Resource Development Corp Given Consensus Recommendation of “Buy” by Analysts (NYSE:MRD)
Memorial Resource Development Corp (NYSE:MRD) has earned a consensus recommendation of “Buy” from the nine analysts that are currently covering the company, Analyst RN reports. Eight analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.14.
Shares of Memorial Resource Development Corp (NYSE:MRD) opened at 26.45 on Tuesday. 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 $24.6 and a 200-day moving average of $24.6. The company has a market cap of $5.092 billion and a P/E ratio of 83.77.
A number of research firms have recently commented on MRD. 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 and a $32.00 price target 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. 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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