Legacy Reserves LP (NASDAQ:LGCY) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 3.83 by 6 Brokerage Firm. 3 Brokerage Firms have advised hold. 2 Analysts have rated it as strong sell. A sell rating was given by 1 analyst.
Other Equity analysts have also commented on the company shares. Major Brokerage house, FBR Capital downgrades its ratings on Legacy Reserves LP (NASDAQ:LGCY). According to the latest information available, the shares are now rated Underperform by the analysts at the agency. Previously, the analysts had a Market Perform rating on the shares. The rating by the firm was issued on May 2, 2016.
Legacy Reserves LP (NASDAQ:LGCY): 3 Analyst have given the stock of Legacy Reserves LP (NASDAQ:LGCY) a near short term price target of $1.83. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $0.76. The higher price target estimate is at $3 while the lower price estimates are fixed at $1.
Legacy Reserves LP (NASDAQ:LGCY) witnessed a decline in the market cap on Tuesday as its shares dropped 1.87% or 0.04 points. After the session commenced at $2.06, the stock reached the higher end at $2.12 while it hit a low of $1.91. With the volume soaring to 1,188,008 shares, the last trade was called at $2.1. The company has a 52-week high of $10.49. The company has a market cap of $146 million and there are 69,512,487 shares in outstanding. The 52-week low of the share price is $0.61.
Legacy Reserves LP has lost 1.41% in the last five trading days and dropped 15.66% in the last 4 weeks. Legacy Reserves LP is up 89.19% in the last 3-month period. Year-to-Date the stock performance stands at 20%.
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.