Legacy Reserves Coverage Initiated by Analysts at UBS AG (LGCY)
Equities researchers at UBS AG assumed coverage on shares of Legacy Reserves (NASDAQ:LGCY) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
A number of other analysts have also recently weighed in on LGCY. Analysts at Oppenheimer initiated coverage on shares of Legacy Reserves in a research note to investors on Tuesday, September 3rd. They set a “market perform” rating on the stock. Separately, analysts at TheStreet downgraded shares of Legacy Reserves from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, August 28th. Finally, analysts at Zacks upgraded shares of Legacy Reserves from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 24th. They now have a $28.70 price target on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $29.89.
Legacy Reserves (NASDAQ:LGCY) traded up 0.22% during mid-day trading on Tuesday, hitting $27.73. The stock had a trading volume of 140,124 shares. Legacy Reserves has a 52 week low of $22.33 and a 52 week high of $29.93. The stock has a 50-day moving average of $27.17 and a 200-day moving average of $27.05. The company’s market cap is $1.595 billion.
Legacy Reserves (NASDAQ:LGCY) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.08. The company had revenue of $118.40 million for the quarter, compared to the consensus estimate of $116.83 million. During the same quarter in the prior year, the company posted $1.73 earnings per share. The company’s quarterly revenue was up 49.5% on a year-over-year basis. Analysts expect that Legacy Reserves will post $0.90 EPS for the current fiscal year.
Legacy Reserves LP (NASDAQ:LGCY) is an independent oil and natural gas limited partnership, and is focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, Mid-continent and Rocky Mountain regions of the United States.
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