Legacy Reserves LP (NASDAQ:LGCY)’s share price hit a new 52-week high and low on Monday . The company traded as low as $5.80 and last traded at $5.68, with a volume of 497953 shares traded. The stock had previously closed at $5.26.
A number of equities analysts have weighed in on LGCY shares. ValuEngine raised Legacy Reserves from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 11th. BidaskClub raised Legacy Reserves from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. Legacy Reserves has a consensus rating of “Hold” and an average target price of $1.58.
The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of -2.69.
In other news, major shareholder Baines Creek Capital, Llc bought 10,950 shares of the firm’s stock in a transaction dated Wednesday, April 11th. The shares were bought at an average price of $5.05 per share, with a total value of $55,297.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 5,372,693 shares of company stock worth $17,331,517 in the last ninety days. 40.60% of the stock is owned by company insiders.
A hedge fund recently bought a new stake in Legacy Reserves stock. Virtu Financial LLC purchased a new position in shares of Legacy Reserves LP (NASDAQ:LGCY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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. Institutional investors own 20.68% of the company’s stock.
About Legacy Reserves
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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