Share on StockTwits

Legacy Reserves (NASDAQ:LGCY) reached a new 52-week low during mid-day trading on Thursday , AmericanBankingNews.com reports. The stock traded as low as $24.57 and last traded at $25.15, with a volume of 182,146 shares. The stock had previously closed at $24.76.

Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. downgraded shares of Legacy Reserves from a “neutral” rating to an “underweight” rating in a research note on Monday, March 24th. They now have a $25.00 price target on the stock, down previously from $28.00. Separately, analysts at Zacks downgraded shares of Legacy Reserves from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 25th. They now have a $31.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.70.

The stock’s 50-day moving average is $25.55 and its 200-day moving average is $26.90. The company’s market cap is $1.446 billion.

Legacy Reserves (NASDAQ:LGCY) last announced its earnings results on Wednesday, February 19th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $1.14. The company had revenue of $122.00 million for the quarter, compared to the consensus estimate of $126.03 million. Analysts expect that Legacy Reserves will post $1.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Investors of record on Friday, May 2nd will be given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 9.47%. The ex-dividend date of this dividend is Wednesday, April 30th. This is an increase from Legacy Reserves’s previous quarterly dividend of $0.59.

Legacy Reserves LP (NASDAQ:LGCY) is an independent oil and natural gas limited partnership.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.