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Memorial Resource Development Corp (NYSE:MRD) Director Robert A. Innamorati purchased 8,127 shares of the stock on the open market in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $25.12 per share, with a total value of $204,150.24. Following the completion of the acquisition, the director now directly owns 43,390 shares in the company, valued at approximately $1,089,957. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Memorial Resource Development Corp (NYSE:MRD) traded up 2.02% during mid-day trading on Thursday, hitting $26.75. 223,344 shares of the company’s stock traded hands. Memorial Resource Development Corp has a 52-week low of $21.07 and a 52-week high of $26.94. The stock’s 50-day moving average is $24.54 and its 200-day moving average is $24.41. The company has a market cap of $5.149 billion and a P/E ratio of 84.58.

Memorial Resource Development Corp (NYSE:MRD) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.04. Analysts expect that Memorial Resource Development Corp will post $0.69 EPS for the current fiscal year.

MRD has been the subject of a number of recent research reports. 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. Separately, 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Memorial Resource Development Corp has a consensus rating of “Buy” and a consensus target price 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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