Stifel Nicolaus upgraded shares of Legacy Reserves LP (NASDAQ:LGCY) from a sell rating to a hold rating in a report released on Wednesday. The firm currently has $1.75 target price on the stock.
Several other analysts also recently issued reports on LGCY. Zacks Investment Research upgraded Legacy Reserves from a hold rating to a buy rating and set a $2.00 price target for the company in a research note on Wednesday, June 29th. FBR & Co reiterated a hold rating and set a $1.75 target price on shares of Legacy Reserves in a research report on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock has a consensus rating of Hold and a consensus target price of $3.63.
Legacy Reserves (NASDAQ:LGCY) opened at 1.70 on Wednesday. The firm’s market cap is $123.10 million. Legacy Reserves has a 12-month low of $0.61 and a 12-month high of $4.68. The company has a 50-day moving average price of $1.44 and a 200-day moving average price of $1.84.
Legacy Reserves (NASDAQ:LGCY) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.81) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.48. The business earned $73.40 million during the quarter, compared to analysts’ expectations of $78.32 million. The firm’s revenue was down 16.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.63) earnings per share. On average, analysts predict that Legacy Reserves will post $0.17 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in LGCY. Deere & Co. acquired a new stake in shares of Legacy Reserves during the second quarter valued at $287,000. KCG Holdings Inc. boosted its position in shares of Legacy Reserves by 40.2% in the second quarter. KCG Holdings Inc. now owns 184,264 shares of the company’s stock worth $299,000 after buying an additional 52,794 shares during the last quarter. Finally, Arrow Investment Advisors LLC boosted its position in shares of Legacy Reserves by 73.4% in the second quarter. Arrow Investment Advisors LLC now owns 661,930 shares of the company’s stock worth $1,072,000 after buying an additional 280,269 shares during the last quarter.
Legacy Reserves Company Profile