Memorial Resource Development Corp (MRD) Releases Quarterly Earnings, Beats Estimates By $0.04 EPS
Memorial Resource Development Corp (NYSE:MRD) released its earnings data on Tuesday. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.04, AnalystRatings.NET reports.
Memorial Resource Development Corp (NYSE:MRD) opened at 24.18 on Tuesday. 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 $24.51 and a 200-day moving average of $24.35. The company has a market cap of $4.655 billion and a P/E ratio of 78.32.
A number of research firms have recently commented on MRD. Analysts at Wunderlich initiated coverage on shares of Memorial Resource Development Corp in a research note on Thursday, July 17th. They set a “buy” rating and a $35.00 price target on the stock. On the ratings front, analysts at Bank of America initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday, July 8th. They set a “buy” rating and a $32.00 price target on the stock. Finally, analysts at Howard Weil initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday, July 8th. They set an “outperform” rating and a $33.00 price target on the stock. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.63.
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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