News articles about Legacy Reserves (NASDAQ:LGCY) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Legacy Reserves earned a coverage optimism score of 0.03 on Accern’s scale. Accern also assigned headlines about the oil and gas producer an impact score of 44.834277534418 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Several research firms have recently weighed in on LGCY. BidaskClub upgraded shares of Legacy Reserves from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 27th. ValuEngine downgraded shares of Legacy Reserves from a “sell” rating to a “strong sell” rating in a report on Saturday, February 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. Legacy Reserves currently has a consensus rating of “Hold” and an average price target of $1.58.
Shares of NASDAQ:LGCY traded down $0.10 during midday trading on Friday, hitting $4.48. The stock had a trading volume of 207,651 shares, compared to its average volume of 547,751. The company has a debt-to-equity ratio of -2.69, a quick ratio of 0.78 and a current ratio of 0.78. Legacy Reserves has a fifty-two week low of $1.07 and a fifty-two week high of $5.43.
In related news, major shareholder Baines Creek Capital, Llc acquired 161,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was acquired at an average cost of $2.09 per share, for a total transaction of $336,490.00. Following the transaction, the insider now directly owns 8,077,930 shares in the company, valued at $16,882,873.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have purchased 5,429,602 shares of company stock valued at $17,315,753. 26.70% of the stock is owned by corporate insiders.
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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