Legacy Reserves Given Average Recommendation of “Hold” by Analysts (NASDAQ:LGCY)
Shares of Legacy Reserves (NASDAQ:LGCY) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the company, Analyst Ratings.Net reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $28.64.
A number of research firms have recently commented on LGCY. Analysts at Oppenheimer upgraded shares of Legacy Reserves from a “market perform” rating to an “outperform” rating in a research note on Wednesday. They now have a $29.00 price target on the stock. Separately, analysts at Robert W. Baird upgraded shares of Legacy Reserves from a “neutral” rating to an “outperform” rating in a research note on Wednesday. They now have a $30.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Bank of America reiterated a “neutral” rating on shares of Legacy Reserves in a research note on Monday. They now have a $28.00 price target on the stock.
Shares of Legacy Reserves (NASDAQ:LGCY) opened at 26.55 on Wednesday. Legacy Reserves has a 52 week low of $24.57 and a 52 week high of $29.49. The stock has a 50-day moving average of $25.55 and a 200-day moving average of $26.81. The company’s market cap is $1.527 billion.
Legacy Reserves (NASDAQ:LGCY) last released its earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.26 by $0.25. The company had revenue of $125.90 million for the quarter, compared to the consensus estimate of $122.01 million. Analysts expect that Legacy Reserves will post $1.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Stockholders 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 8.96%. The ex-dividend date of this dividend is Wednesday, April 30th. This is a boost from Legacy Reserves’s previous quarterly dividend of $0.59.
Legacy Reserves LP (NASDAQ:LGCY) is an independent oil and natural gas limited partnership.
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