Today: The Legacy Reserves LP (LGCY) Raised to Hold at Stifel Nicolaus

The Legacy Reserves LP (LGCY) Raised to Hold at Stifel Nicolaus

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

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