Brigade Capital Management Lp buys $9,412,000 stake in Memorial Resource Development Corp (MRD)

Memorial Resource Development Corp (MRD) : Brigade Capital Management Lp scooped up 350,000 additional shares in Memorial Resource Development Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 650,000 shares of Memorial Resource Development Corp which is valued at $9,412,000.Memorial Resource Development Corp makes up approximately 3.87% of Brigade Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Cubist Systematic Strategies boosted its stake in MRD in the latest quarter, The investment management firm added 16,446 additional shares and now holds a total of 17,055 shares of Memorial Resource Development Corp which is valued at $246,956. Memorial Resource Development Corp makes up approx 0.01% of Cubist Systematic Strategies’s portfolio. Cornerstone Capital Management Holdings. sold out all of its stake in MRD during the most recent quarter. The investment firm sold 15,800 shares of MRD which is valued $228,784. Harvest Management added MRD to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $144,800. Memorial Resource Development Corp makes up approx 0.14% of Harvest Management’s portfolio.Ranger Investment Management reduced its stake in MRD by selling 501,970 shares or 33.51% in the most recent quarter. The Hedge Fund company now holds 996,010 shares of MRD which is valued at $14,422,225. Memorial Resource Development Corp makes up approx 0.84% of Ranger Investment Management’s portfolio. Cipher Capital Lp sold out all of its stake in MRD during the most recent quarter. The investment firm sold 145,252 shares of MRD which is valued $2,103,249.

Memorial Resource Development Corp opened for trading at $14.28 and hit $14.7025 on the upside on Thursday, eventually ending the session at $14.57, with a gain of 1.18% or 0.17 points. The heightened volatility saw the trading volume jump to 9,92,930 shares. Company has a market cap of $3,002 M.

Investors should note that on Aug 10, 2016, Memorial Resource Development Corp announced a cash dividend of $0.1200. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Memorial Resource Development Corp. Memorial Resource Development Corp was Downgraded by Johnson Rice to ” Hold” on May 25, 2016. Memorial Resource Development Corp was Downgraded by KLR Group to ” Hold” on May 20, 2016.

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 Valley—Terryville 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.

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