Legacy Reserves LP (NASDAQ:LGCY)’s share price reached a new 52-week high and low on Tuesday . The stock traded as low as $6.49 and last traded at $6.49, with a volume of 508680 shares. The stock had previously closed at $6.25.
Several equities analysts have weighed in on the company. ValuEngine raised Legacy Reserves from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 11th. BidaskClub raised Legacy Reserves from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $1.58.
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The company has a debt-to-equity ratio of -3.01, a current ratio of 0.79 and a quick ratio of 0.79.
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. Legacy Reserves had a negative return on equity of 1.87% and a negative net margin of 1.24%.
In related news, major shareholder Baines Creek Capital, Llc purchased 91,024 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was bought at an average price of $5.71 per share, with a total value of $519,747.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 4,112,562 shares of company stock valued at $15,788,900 in the last three months. 40.60% of the stock is currently owned by company insiders.
An institutional investor recently bought a new position in Legacy Reserves stock. Virtu Financial LLC acquired a new stake in Legacy Reserves LP (NASDAQ:LGCY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 68,541 shares of the oil and gas producer’s stock, valued at approximately $110,000. Virtu Financial LLC owned 0.09% of Legacy Reserves as of its most recent SEC filing. Institutional investors and hedge funds own 20.69% of the company’s stock.
Legacy Reserves Company Profile
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.