Legacy Reserves LP (NASDAQ:LGCY) hit a new 52-week high and low on Tuesday . The stock traded as low as $8.74 and last traded at $8.63, with a volume of 42189 shares. The stock had previously closed at $8.36.
Several equities research analysts have weighed in on LGCY shares. ValuEngine raised Legacy Reserves from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. UBS raised Legacy Reserves from a “sell” rating to a “neutral” rating in a report on Monday. Finally, BidaskClub raised Legacy Reserves from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $1.58.
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The company has a debt-to-equity ratio of -3.01, a quick ratio of 0.79 and a current ratio of 0.79.
Legacy Reserves (NASDAQ:LGCY) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported ($0.23) earnings per share for the quarter. The business had revenue of $137.09 million during the quarter. Legacy Reserves had a negative return on equity of 1.87% and a negative net margin of 1.24%.
In other Legacy Reserves news, major shareholder Baines Creek Capital, Llc purchased 173,306 shares of the stock in a transaction on Friday, February 16th. The stock was acquired at an average price of $2.30 per share, with a total value of $398,603.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders acquired 4,037,562 shares of company stock valued at $15,622,400. Corporate insiders own 40.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of Legacy Reserves during the fourth quarter worth about $110,000. Citigroup Inc. lifted its holdings in shares of Legacy Reserves by 1,701.5% during the first quarter. Citigroup Inc. now owns 77,823 shares of the oil and gas producer’s stock worth $366,000 after purchasing an additional 73,503 shares during the period. Finally, X Square Capital LLC acquired a new stake in shares of Legacy Reserves during the first quarter worth about $587,000. 20.64% of the stock is owned by hedge funds and other institutional investors.
About Legacy Reserves
Legacy Reserves LP acquires and develops oil and natural gas properties primarily in the Permian Basin, East Texas, Rocky Mountain, and Mid-Continent regions of the United States. As of December 31, 2017, the company owned interests in producing oil and natural gas properties in 606 fields comprising 10,492 gross productive wells, including 3,497 operated and 6,995 non-operated wells located in the Permian Basin, East Texas, Piceance Basin of Colorado, Texas Panhandle, Wyoming, North Dakota, Montana, Oklahoma, and other states.