Shares of Legacy Reserves LP (NASDAQ:LGCY) have been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $1.58.
A number of research firms recently weighed in on LGCY. ValuEngine raised shares of Legacy Reserves from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 11th. BidaskClub raised shares of Legacy Reserves from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 27th.
LGCY traded down $0.14 during trading hours on Wednesday, reaching $5.69. 324,805 shares of the stock traded hands, compared to its average volume of 549,516. Legacy Reserves has a fifty-two week low of $1.07 and a fifty-two week high of $6.24. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of -2.69.
Legacy Reserves (NASDAQ:LGCY) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported ($0.23) earnings per share for the quarter. The company had revenue of $137.09 million for the quarter.
In related news, major shareholder Baines Creek Capital, Llc acquired 158,953 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was bought at an average cost of $2.51 per share, with a total value of $398,972.03. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have acquired 5,244,161 shares of company stock valued at $17,727,899. 40.60% of the stock is owned by company insiders.
An institutional investor recently bought a new position in Legacy Reserves stock. Virtu Financial LLC acquired a new position in shares of Legacy Reserves LP (NASDAQ:LGCY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 68,541 shares of the oil and gas producer’s stock, valued at approximately $110,000. Virtu Financial LLC owned approximately 0.09% of Legacy Reserves at the end of the most recent reporting period. 20.69% of the stock is currently owned by institutional investors and hedge funds.
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Legacy Reserves Company Profile
Legacy Reserves LP (Legacy) is a master limited partnership company. The Company focuses on the acquisition and development of oil and natural gas properties located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States. As of December 31, 2016, the Company had proved reserves of approximately 144.8 million barrels of crude oil equivalent (MMBoe), of which 72% were natural gas, 28% were oil and natural gas liquids (NGLs) and 94% were classified as proved developed producing.
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