Revenue Update on Memorial Resource Development Corp(NASDAQ:MRD)

Memorial Resource Development Corp(NASDAQ:MRD) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $98.99M. Analysts estimated a revenue of $156.46M. Earnings per share were $0.10. Analysts had estimated an EPS of $0.14.

In a different note, On May 25, 2016, Johnson Rice said it Downgrades its rating on Memorial Resource Development Corp. The shares have been rated ‘Hold’ by the firm. On May 25, 2016, Johnson Rice said it Downgrades its rating on Memorial Resource Development Corp. The shares have been rated ‘Hold’ by the firm. On May 17, 2016, Wunderlich said it Downgrades its rating on Memorial Resource Development Corp. The shares have been rated ‘Hold’ by the firm.

Memorial Resource Development Corp (MRD) shares turned negative on Thursdays trading session with the shares closing down -0.22 points or -1.46% at a volume of 9,16,832. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.29. The peak price level was also seen at $15.29 while the days lowest was $14.85. Finally the shares closed at $14.89. The 52-week high of the shares is $20.55 while the 52-week low is $8.3. According to the latest information available, the market cap of the company is $3,068 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 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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