Legacy Reserves LP (LGCY) Shares are Down -1.78%

Legacy Reserves LP (LGCY) : During the past 4 weeks, traders have been relatively bearish on Legacy Reserves LP (LGCY), hence the stock is down -3.29% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.74% relative to the S&P 500. The 4-week change in the price of the stock is -2.92% and the stock has fallen -1.78% in the past 1 week.

Legacy Reserves LP has dropped 33.33% during the last 3-month period . Year-to-Date the stock performance stands at -5.14%. The stock has recorded a 20-day Moving Average of 1.54% and the 50-Day Moving Average is 7.77%.


Legacy Reserves LP (NASDAQ:LGCY): The stock opened at $1.67 on Friday but the bulls could not build on the opening and the stock topped out at $1.72 for the day. The stock traded down to $1.64 during the day, due to lack of any buying support eventually closed down at $1.66 with a loss of -1.19% for the day. The stock had closed at $1.68 on the previous day. The total traded volume was 264,592 shares.

Also, Major Brokerage house, FBR Capital upgrades its ratings on Legacy Reserves LP (NASDAQ:LGCY). In the latest research report, FBR Capital lowers the target price from $2 per share to $1.75 per share. According to the latest information available, the shares are now rated Market Perform by the analysts at the agency. Previously, the analysts had a Underperform rating on the shares. The rating by the firm was issued on July 6, 2016.

Legacy Reserves LP (Legacy) is a master limited partnership Company. The Company focuses on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, Rocky Mountain and Mid-Continent regions of the United States. As of December 31, 2014, the Company had proved reserves of approximately 139.0 Million Barrels of Oil Equivalent (MMBoe), of which 50% were oil and natural gas liquids (NGLs) and 89% were classified as proved developed producing, 2% were proved developed non-producing and 9% were proved undeveloped. The Companys proved reserves to production ratio were approximately 11.6 years based on the annualized production volumes. The Company completed 136 acquisitions of oil and natural gas properties for a total of approximately $2.1 billion.

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