Media coverage about Legacy Reserves LP Unit (NASDAQ:LGCY) has trended somewhat positive this week, according to Accern. The research group identifies positive and negative media coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Legacy Reserves LP Unit earned a news impact score of 0.03 on Accern’s scale. Accern also gave news headlines about the oil and gas producer an impact score of 44.3867221840231 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Shares of LGCY traded down $0.24 during trading hours on Thursday, hitting $5.10. The stock had a trading volume of 1,360 shares, compared to its average volume of 285,262. 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 has a 12 month low of $1.07 and a 12 month high of $10.54.
Legacy Reserves LP Unit (NASDAQ:LGCY) last issued its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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.
A number of research analysts have issued reports on LGCY shares. UBS Group upgraded Legacy Reserves LP Unit from a “sell” rating to a “neutral” rating in a research note on Monday, May 14th. BidaskClub lowered Legacy Reserves LP Unit from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 24th. Finally, ValuEngine raised Legacy Reserves LP Unit from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd.
In related news, major shareholder Baines Creek Capital, Llc bought 59,949 shares of the stock in a transaction that occurred on Friday, June 22nd. The shares were bought at an average cost of $6.88 per share, for a total transaction of $412,449.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 768,813 shares of company stock worth $4,341,724 over the last quarter. 40.60% of the stock is owned by company insiders.
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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