Hennessy Advisors Inc. Sells 20,300 Shares of Legacy Reserves LP Unit (LGCY)

Hennessy Advisors Inc. trimmed its holdings in shares of Legacy Reserves LP Unit (NASDAQ:LGCY) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 628,600 shares of the oil and gas producer’s stock after selling 20,300 shares during the period. Hennessy Advisors Inc. owned approximately 0.82% of Legacy Reserves LP Unit worth $3,049,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LGCY. FMR LLC lifted its holdings in shares of Legacy Reserves LP Unit by 7.2% during the second quarter. FMR LLC now owns 9,756,322 shares of the oil and gas producer’s stock valued at $67,319,000 after purchasing an additional 652,818 shares during the last quarter. Navellier & Associates Inc purchased a new position in shares of Legacy Reserves LP Unit during the second quarter valued at approximately $653,000. Cavalier Investments LLC purchased a new position in shares of Legacy Reserves LP Unit during the second quarter valued at approximately $551,000. Citigroup Inc. lifted its holdings in shares of Legacy Reserves LP Unit by 1,701.5% during the first quarter. Citigroup Inc. now owns 77,823 shares of the oil and gas producer’s stock valued at $366,000 after purchasing an additional 73,503 shares during the last quarter. Finally, AMP Capital Investors Ltd purchased a new position in shares of Legacy Reserves LP Unit during the second quarter valued at approximately $316,000. Hedge funds and other institutional investors own 21.28% of the company’s stock.

In related news, VP Dan G. Leroy sold 66,488 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $4.68, for a total value of $311,163.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Micah C. Foster sold 54,605 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $4.68, for a total transaction of $255,551.40. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 733,010 shares of company stock valued at $3,711,014 and sold 1,524,115 shares valued at $7,132,858. 40.60% of the stock is owned by insiders.

Several equities analysts have recently issued reports on the stock. ValuEngine lowered shares of Legacy Reserves LP Unit from a “hold” rating to a “sell” rating in a report on Friday. Seaport Global Securities assumed coverage on shares of Legacy Reserves LP Unit in a report on Wednesday, September 19th. They set a “neutral” rating for the company. Finally, BidaskClub lowered shares of Legacy Reserves LP Unit from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 8th.

Shares of NASDAQ LGCY opened at $5.01 on Friday. Legacy Reserves LP Unit has a twelve month low of $1.07 and a twelve month high of $10.54. The company has a market capitalization of $373.11 million, a P/E ratio of -10.02 and a beta of 1.82. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of -1.63.

Legacy Reserves LP Unit (NASDAQ:LGCY) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.17). Legacy Reserves LP Unit had a negative return on equity of 1.87% and a negative net margin of 8.74%. The firm had revenue of $139.28 million during the quarter. Sell-side analysts expect that Legacy Reserves LP Unit will post 0.65 earnings per share for the current fiscal year.

About Legacy Reserves LP Unit

Legacy Reserves LP acquires and develops oil and natural gas properties primarily in the Permian Basin, East Texas, Rocky Mountain, and Mid-Continent regions of the United States. As of December 31, 2017, the company owned interests in producing oil and natural gas properties in 606 fields comprising 10,492 gross productive wells, including 3,497 operated and 6,995 non-operated wells located in the Permian Basin, East Texas, Piceance Basin of Colorado, Texas Panhandle, Wyoming, North Dakota, Montana, Oklahoma, and other states.

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Institutional Ownership by Quarter for Legacy Reserves LP Unit (NASDAQ:LGCY)

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