Legacy Reserves LP (LGCY) Shares Bought by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. grew its position in Legacy Reserves LP (NASDAQ:LGCY) by 123.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,952 shares of the oil and gas producer’s stock after acquiring an additional 38,110 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Legacy Reserves were worth $101,000 at the end of the most recent reporting period.
Separately, Credit Suisse AG boosted its holdings in shares of Legacy Reserves by 11.3% in the first quarter. Credit Suisse AG now owns 2,000,055 shares of the oil and gas producer’s stock valued at $4,580,000 after acquiring an additional 203,500 shares during the period. Institutional investors and hedge funds own 20.62% of the company’s stock.
Several equities research analysts have recently commented on LGCY shares. ValuEngine upgraded Legacy Reserves from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded Legacy Reserves from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $1.88.
Shares of Legacy Reserves LP (LGCY) opened at $1.59 on Thursday. Legacy Reserves LP has a 52 week low of $1.08 and a 52 week high of $2.77. The company has a debt-to-equity ratio of -2.79, a quick ratio of 0.71 and a current ratio of 0.71.
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Legacy Reserves 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.
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