Memorial Resource Development Corp Sets New 12-Month High at $27.47 (MRD)
Memorial Resource Development Corp (NYSE:MRD) shares hit a new 52-week high on Thursday , Stock Ratings News reports. The company traded as high as $27.47 and last traded at $27.16, with a volume of 469,053 shares traded. The stock had previously closed at $26.22.
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. 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 analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Memorial Resource Development Corp currently has an average rating of “Buy” and a consensus target price of $31.63.
The stock has a 50-day moving average of $24.54 and a 200-day moving average of $24.41. The company has a market cap of $5.274 billion and a price-to-earnings ratio of 84.58.
Memorial Resource Development Corp (NYSE:MRD) last released its earnings data 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.
In other Memorial Resource Development Corp news, Director Robert A. Innamorati acquired 8,127 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $25.12 per share, with a total value of $204,150.24. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
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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