Memorial Resource Development Corp. (MRD) Receives Consensus Rating of “Hold” from Brokerages
Memorial Resource Development Corp. (NASDAQ:MRD) has earned an average rating of “Hold” from the twenty-one ratings firms that are presently covering the stock. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.52.
Separately, BMO Capital Markets cut Memorial Resource Development Corp. from an “outperform” rating to a “market perform” rating and set a $17.00 price objective for the company. in a research report on Friday, July 29th.
In related news, Director Patrick Wood III sold 3,500 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $14.44, for a total transaction of $50,540.00. Following the sale, the director now owns 31,711 shares of the company’s stock, valued at $457,906.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 51.10% of the company’s stock.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/memorial-resource-development-corp-mrd-receives-consensus-rating-of-hold-from-brokerages.html
A number of hedge funds have recently modified their holdings of MRD. Harvest Management LLC acquired a new stake in shares of Memorial Resource Development Corp. during the second quarter worth about $159,000. IBM Retirement Fund acquired a new stake in shares of Memorial Resource Development Corp. during the second quarter worth about $162,000. Amalgamated Bank acquired a new stake in shares of Memorial Resource Development Corp. during the second quarter worth about $174,000. Boothbay Fund Management LLC raised its stake in shares of Memorial Resource Development Corp. by 18.4% in the first quarter. Boothbay Fund Management LLC now owns 12,576 shares of the company’s stock worth $128,000 after buying an additional 1,955 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of Memorial Resource Development Corp. during the second quarter worth about $205,000. 85.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Memorial Resource Development Corp. (NASDAQ:MRD) remained flat at $14.72 during mid-day trading on Tuesday. The company’s 50 day moving average price is $14.99 and its 200 day moving average price is $13.86. Memorial Resource Development Corp. has a 52-week low of $8.30 and a 52-week high of $20.25.
Memorial Resource Development Corp. Company Profile
Memorial Resource Development Corp. is an independent natural gas and oil company focused on the acquisition, exploration and development of natural gas and oil properties with substantially all of its activities in the Terryville Complex of North Louisiana. The Company’s segments include MRD and Memorial Production Partners LP (MEMP).
Receive News & Ratings for Memorial Resource Development Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Memorial Resource Development Corp. and related companies with MarketBeat.com's FREE daily email newsletter.