Legacy Reserves Inc (LGCY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Legacy Reserves Inc (NASDAQ:LGCY) have been assigned a consensus recommendation of “Hold” from the five research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company.

A number of analysts recently weighed in on LGCY shares. TheStreet downgraded Legacy Reserves from a “c-” rating to a “d-” rating in a research note on Friday, May 10th. Zacks Investment Research upgraded Legacy Reserves from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, ValuEngine upgraded Legacy Reserves from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 2nd.

Shares of Legacy Reserves stock traded down $0.05 during trading on Friday, reaching $0.27. The company’s stock had a trading volume of 1,066,500 shares, compared to its average volume of 1,143,581. Legacy Reserves has a 12-month low of $0.26 and a 12-month high of $8.84. The company has a market cap of $35.03 million, a PE ratio of 1.50 and a beta of 1.55.



Legacy Reserves (NASDAQ:LGCY) last posted its quarterly earnings results on Monday, March 18th. The oil and gas producer reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). Legacy Reserves had a negative net margin of 18.46% and a negative return on equity of 3.66%. The business had revenue of $132.89 million during the quarter, compared to analysts’ expectations of $146.80 million. Research analysts expect that Legacy Reserves will post -0.28 EPS for the current fiscal year.

In other news, major shareholder Baines Creek Capital, Llc bought 252,514 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were bought at an average cost of $0.50 per share, for a total transaction of $126,257.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have acquired 1,274,651 shares of company stock worth $972,698. 40.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of LGCY. Jefferies Group LLC purchased a new stake in Legacy Reserves during the first quarter worth $25,000. Caz Investments LP purchased a new stake in Legacy Reserves during the fourth quarter worth $31,000. Two Sigma Advisers LP purchased a new stake in Legacy Reserves during the fourth quarter worth $43,000. Virtu Financial LLC boosted its position in Legacy Reserves by 140.0% during the first quarter. Virtu Financial LLC now owns 93,044 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 54,277 shares in the last quarter. Finally, Barclays PLC boosted its position in Legacy Reserves by 1,697.5% during the fourth quarter. Barclays PLC now owns 35,897 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 33,900 shares in the last quarter. Institutional investors own 39.38% of the company’s stock.

Legacy Reserves Company Profile

Legacy Reserves Inc, an independent energy company, engages in the acquisition, development, and production of oil and natural gas properties in the United States. It focuses on the horizontal development of unconventional plays in the Permian Basin and the management of shallow-decline oil and natural gas wells in the regions of Permian Basin, East Texas, Rocky Mountain, and Mid-Continent.

See Also: Balance Sheet

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