Legacy Reserves Inc (NASDAQ:LGCY) has been assigned an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company.
LGCY has been the topic of a number of analyst reports. Zacks Investment Research raised Legacy Reserves from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 12th. ValuEngine raised Legacy Reserves from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 2nd. Finally, TheStreet raised Legacy Reserves from a “d+” rating to a “c” rating in a research note on Tuesday, March 19th.
In other Legacy Reserves news, major shareholder Baines Creek Capital, Llc purchased 75,000 shares of the firm’s stock in a transaction on Friday, January 18th. The shares were purchased at an average cost of $1.64 per share, with a total value of $123,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders acquired 1,742,923 shares of company stock worth $1,876,918. 40.60% of the stock is owned by corporate insiders.
Shares of LGCY traded down $0.06 during trading hours on Thursday, reaching $0.48. 2,408,651 shares of the company traded hands, compared to its average volume of 2,128,632. The firm has a market cap of $51.02 million, a P/E ratio of 5.33 and a beta of 1.71. Legacy Reserves has a fifty-two week low of $0.38 and a fifty-two week high of $10.54.
About Legacy Reserves
Legacy Reserves Inc, an independent energy company, engages in the acquisition, development, and production of oil and natural gas properties in the United States. Its operations focus on the horizontal development of unconventional plays in the Permian Basin and the management of shallow-decline oil and natural gas wells in the Permian Basin, East Texas, Rocky Mountain, and Mid-Continent regions.
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