Insider Buying: Legacy Reserves LP (LGCY) Major Shareholder Buys 150,000 Shares of Stock

Legacy Reserves LP (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc bought 150,000 shares of Legacy Reserves stock in a transaction dated Friday, February 2nd. The stock was purchased at an average price of $2.28 per share, for a total transaction of $342,000.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Baines Creek Capital, Llc also recently made the following trade(s):

  • On Tuesday, February 6th, Baines Creek Capital, Llc bought 526,000 shares of Legacy Reserves stock. The stock was purchased at an average price of $2.27 per share, for a total transaction of $1,194,020.00.
  • On Wednesday, January 31st, Baines Creek Capital, Llc bought 275,000 shares of Legacy Reserves stock. The stock was purchased at an average price of $2.39 per share, for a total transaction of $657,250.00.
  • On Monday, January 29th, Baines Creek Capital, Llc bought 100,000 shares of Legacy Reserves stock. The stock was purchased at an average price of $2.49 per share, for a total transaction of $249,000.00.
  • On Friday, January 26th, Baines Creek Capital, Llc bought 158,953 shares of Legacy Reserves stock. The stock was purchased at an average price of $2.51 per share, for a total transaction of $398,972.03.
  • On Wednesday, January 24th, Baines Creek Capital, Llc bought 141,986 shares of Legacy Reserves stock. The stock was purchased at an average price of $2.31 per share, for a total transaction of $327,987.66.
  • On Monday, January 22nd, Baines Creek Capital, Llc bought 121,641 shares of Legacy Reserves stock. The stock was purchased at an average price of $2.23 per share, for a total transaction of $271,259.43.
  • On Friday, January 19th, Baines Creek Capital, Llc bought 69,636 shares of Legacy Reserves stock. The stock was purchased at an average price of $2.10 per share, for a total transaction of $146,235.60.
  • On Tuesday, January 16th, Baines Creek Capital, Llc bought 161,000 shares of Legacy Reserves stock. The stock was purchased at an average price of $2.09 per share, for a total transaction of $336,490.00.
  • On Tuesday, January 9th, Baines Creek Capital, Llc bought 92,976 shares of Legacy Reserves stock. The stock was purchased at an average price of $1.73 per share, for a total transaction of $160,848.48.

Legacy Reserves LP (NASDAQ:LGCY) traded up $0.09 during trading on Tuesday, hitting $2.30. The company had a trading volume of 563,504 shares, compared to its average volume of 551,781. The company has a debt-to-equity ratio of -2.79, a current ratio of 0.71 and a quick ratio of 0.71. Legacy Reserves LP has a fifty-two week low of $1.07 and a fifty-two week high of $2.60. The company has a market capitalization of $167.57, a PE ratio of -1.08 and a beta of 2.85.

Several institutional investors have recently added to or reduced their stakes in LGCY. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Legacy Reserves by 123.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 68,952 shares of the oil and gas producer’s stock valued at $101,000 after buying an additional 38,110 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Legacy Reserves in the third quarter valued at about $430,000. Finally, RR Advisors LLC raised its holdings in shares of Legacy Reserves by 40.5% in the third quarter. RR Advisors LLC now owns 850,000 shares of the oil and gas producer’s stock valued at $1,292,000 after buying an additional 245,000 shares during the last quarter. 20.18% of the stock is owned by institutional investors and hedge funds.

Separately, ValuEngine downgraded shares of Legacy Reserves from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $1.88.

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Legacy Reserves Company Profile

Legacy Reserves LP (Legacy) is a master limited partnership company. The Company focuses on the acquisition and development of oil and natural gas properties located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States. As of December 31, 2016, the Company had proved reserves of approximately 144.8 million barrels of crude oil equivalent (MMBoe), of which 72% were natural gas, 28% were oil and natural gas liquids (NGLs) and 94% were classified as proved developed producing.

Insider Buying and Selling by Quarter for Legacy Reserves (NASDAQ:LGCY)

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