Legacy Reserves LP Unit (NASDAQ:LGCY) Chairman Paul T. Horne sold 563,551 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $4.68, for a total transaction of $2,637,418.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
NASDAQ LGCY traded up $0.14 during trading on Thursday, reaching $5.03. 1,000 shares of the company’s stock traded hands, compared to its average volume of 442,088. The company has a debt-to-equity ratio of -1.63, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $382.34 million, a price-to-earnings ratio of -9.92 and a beta of 1.78. Legacy Reserves LP Unit has a 12-month low of $1.07 and a 12-month high of $10.54.
Legacy Reserves LP Unit (NASDAQ:LGCY) last posted its earnings results on Wednesday, August 1st. The oil and gas producer reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.17). The business had revenue of $139.28 million for the quarter. Legacy Reserves LP Unit had a negative net margin of 8.74% and a negative return on equity of 1.87%. equities analysts expect that Legacy Reserves LP Unit will post 0.65 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates increased its position in Legacy Reserves LP Unit by 33.1% during the 2nd quarter. Raymond James & Associates now owns 103,886 shares of the oil and gas producer’s stock valued at $717,000 after purchasing an additional 25,826 shares during the period. AMP Capital Investors Ltd purchased a new position in Legacy Reserves LP Unit during the 2nd quarter valued at about $316,000. Citigroup Inc. grew its position in shares of Legacy Reserves LP Unit by 1,701.5% in the 1st quarter. Citigroup Inc. now owns 77,823 shares of the oil and gas producer’s stock worth $366,000 after buying an additional 73,503 shares during the last quarter. Navellier & Associates Inc purchased a new position in shares of Legacy Reserves LP Unit in the 2nd quarter worth approximately $653,000. Finally, Cavalier Investments LLC purchased a new position in shares of Legacy Reserves LP Unit in the 2nd quarter worth approximately $551,000. 21.28% of the stock is currently owned by institutional investors and hedge funds.
LGCY has been the topic of a number of research reports. BidaskClub downgraded shares of Legacy Reserves LP Unit from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Seaport Global Securities initiated coverage on shares of Legacy Reserves LP Unit in a research report on Wednesday, September 19th. They set a “neutral” rating on the stock. Finally, ValuEngine raised shares of Legacy Reserves LP Unit from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd.
About Legacy Reserves LP Unit
Legacy Reserves LP acquires and develops oil and natural gas properties primarily in the Permian Basin, East Texas, Rocky Mountain, and Mid-Continent regions of the United States. As of December 31, 2017, the company owned interests in producing oil and natural gas properties in 606 fields comprising 10,492 gross productive wells, including 3,497 operated and 6,995 non-operated wells located in the Permian Basin, East Texas, Piceance Basin of Colorado, Texas Panhandle, Wyoming, North Dakota, Montana, Oklahoma, and other states.
Further Reading: Outstanding Shares and The Effect on Share Price
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