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Legacy Reserves (NASDAQ:LGCY) has earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the stock, Analyst Ratings News reports. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $31.61.

Legacy Reserves (NASDAQ:LGCY) traded down 1.66% on Tuesday, hitting $31.49. 72,421 shares of the company’s stock traded hands. Legacy Reserves has a 52-week low of $24.57 and a 52-week high of $32.61. The stock has a 50-day moving average of $30.93 and a 200-day moving average of $27.77. The company’s market cap is $1.813 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 $0.99 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Friday, August 1st will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 7.62%. The ex-dividend date is Wednesday, July 30th. This is an increase from Legacy Reserves’s previous quarterly dividend of $0.60.

LGCY has been the subject of a number of recent research reports. Analysts at Citigroup Inc. downgraded shares of Legacy Reserves from a “buy” rating to a “neutral” rating in a research note on Tuesday. Separately, analysts at TheStreet upgraded shares of Legacy Reserves from a “hold” rating to a “buy” rating in a research note on Thursday, June 12th. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Legacy Reserves in a research note on Thursday, June 12th. They now have a $32.00 price target on the stock, up previously from $29.00.

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

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