Legacy Reserves LP (LGCY) Major Shareholder Baines Creek Capital, Llc Buys 374,106 Shares

Legacy Reserves LP (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc acquired 374,106 shares of Legacy Reserves stock in a transaction that occurred on Wednesday, February 14th. The stock was acquired at an average cost of $2.31 per share, with a total value of $864,184.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 Thursday, February 8th, Baines Creek Capital, Llc acquired 75,000 shares of Legacy Reserves stock. The stock was acquired at an average cost of $2.22 per share, with a total value of $166,500.00.
  • On Friday, February 2nd, Baines Creek Capital, Llc acquired 150,000 shares of Legacy Reserves stock. The stock was acquired at an average cost of $2.28 per share, with a total value of $342,000.00.
  • On Tuesday, February 6th, Baines Creek Capital, Llc acquired 526,000 shares of Legacy Reserves stock. The stock was acquired at an average cost of $2.27 per share, with a total value of $1,194,020.00.
  • On Wednesday, January 31st, Baines Creek Capital, Llc acquired 275,000 shares of Legacy Reserves stock. The stock was acquired at an average cost of $2.39 per share, with a total value of $657,250.00.
  • On Monday, January 29th, Baines Creek Capital, Llc acquired 100,000 shares of Legacy Reserves stock. The stock was acquired at an average cost of $2.49 per share, with a total value of $249,000.00.
  • On Friday, January 26th, Baines Creek Capital, Llc acquired 158,953 shares of Legacy Reserves stock. The stock was acquired at an average cost of $2.51 per share, with a total value 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.

Shares of Legacy Reserves LP (NASDAQ LGCY) traded down $0.02 on Wednesday, reaching $2.27. 476,695 shares of the company traded hands, compared to its average volume of 464,029. The company has a market cap of $170.85, a P/E ratio of -1.07 and a beta of 2.85. Legacy Reserves LP has a 12-month low of $1.07 and a 12-month high of $2.60. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of -2.79.

Separately, ValuEngine upgraded shares of Legacy Reserves from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $1.88.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in Legacy Reserves by 123.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 68,952 shares of the oil and gas producer’s stock worth $101,000 after acquiring an additional 38,110 shares during the period. Virtu Financial LLC bought a new position in Legacy Reserves in the 4th quarter worth $110,000. RR Advisors LLC raised its holdings in Legacy Reserves by 40.5% in the 3rd quarter. RR Advisors LLC now owns 850,000 shares of the oil and gas producer’s stock worth $1,292,000 after acquiring an additional 245,000 shares during the period. Finally, Valeo Financial Advisors LLC bought a new position in Legacy Reserves in the 3rd quarter worth $430,000. Hedge funds and other institutional investors own 20.18% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was first posted by American Banking News and is the property of of American Banking News. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/02/14/legacy-reserves-lp-lgcy-major-shareholder-baines-creek-capital-llc-buys-374106-shares.html.

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)

Receive News & Ratings for Legacy Reserves Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legacy Reserves and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply