Legacy Reserves (NASDAQ:LGCY) will be announcing its earnings results after the market closes on Wednesday, February 21st. Analysts expect the company to announce earnings of $0.12 per share for the quarter.
Shares of Legacy Reserves (NASDAQ LGCY) opened at $2.29 on Wednesday. The company has a debt-to-equity ratio of -2.79, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $157.37, a PE ratio of -1.08 and a beta of 2.87. Legacy Reserves has a 1-year low of $1.07 and a 1-year high of $2.60.
In related news, major shareholder Baines Creek Capital, Llc acquired 69,636 shares of the stock in a transaction on Friday, January 19th. The stock was acquired at an average cost of $2.10 per share, for a total transaction of $146,235.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 1,872,192 shares of company stock valued at $4,250,563 over the last 90 days. 26.70% of the stock is currently owned by company insiders.
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About Legacy Reserves
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.
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