Memorial Resource Development Corp (MRD) was Downgraded by Wunderlich to ” Hold” and the brokerage firm has set the Price Target at $16. Earlier the firm had a rating of “Buy ” on the company shares. Wunderlich advised their investors in a research report released on May 17, 2016.
Many Wall Street Analysts have commented on Memorial Resource Development Corp. Company shares were Reiterated by Wunderlich on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 16 from a previous price target of $15 .Memorial Resource Development Corp was Initiated by Ladenburg Thalmann to “Buy” on Apr 15, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 25, 2016 to “Outperform” and Lowered the Price Target to $ 15 from a previous price target of $17 .
Memorial Resource Development Corp opened for trading at $14.89 and hit $15.32 on the upside on Monday, eventually ending the session at $13.86, with a gain of 3.05% or 0.41 points. The heightened volatility saw the trading volume jump to 2,99,03,527 shares. Company has a market cap of $2,860 M.
Memorial Resource Development Corp. is an independent natural gas and oil company. The Company is focused on the acquisition exploration and development of natural gas and oil properties. Its properties include Cotton Valley Cotton ValleyTerryville Complex Other North Louisiana and Rockies. It operates in two segments: MRD which reflects the combined operations of the Company MRD Operating LLC (MRD Operating) Memorial Resource Development LLC (MRD LLC) WildHorse Resources and its previous owners Classic Hydrocarbons Holdings L.P. (Classic) and Classic Hydrocarbons GP Co. L.L.C. (Classic GP) Black Diamond Minerals LLC (Black Diamond) BlueStone Natural Resources Holdings LLC (BlueStone) Beta Operating Company LLC (Beta Operating) and Memorial Production Partners GP LLC (MEMP GP); and MEMP which reflects the combined operations of Memorial Production Partners LP (MEMP) its previous owners and dropdown transactions occurred between MEMP and MRD LLC subsidiaries.