Short Term Rating on Legacy Reserves LP (LGCY)

Legacy Reserves LP (LGCY) : 6 analysts are covering Legacy Reserves LP (LGCY) and their average rating on the stock is 3.5, which is read as a Hold. A Zacks Investment Research rank of 1, which recommends a Strong Buy affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Legacy Reserves LP (LGCY) : The most positive equity analysts on Legacy Reserves LP (LGCY) expects the shares to touch $3, whereas, the least positive believes that the stock will trade at $1 in the short term. The company is covered by 3 Wall Street Brokerage Firms. The average price target for shares are $1.75 with an expected fluctuation of $0.75 from the mean.

Company shares have received an average consensus rating of Hold for the current week


Legacy Reserves LP (NASDAQ:LGCY): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.70 and $1.70 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.93. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.83, notching a gain of 10.24% for the day. The total traded volume was 1,037,544 . The stock had closed at $1.66 on the previous day.

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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