Legacy Reserves (LGCY) Earning Somewhat Favorable Press Coverage, Analysis Finds

Press coverage about Legacy Reserves (NASDAQ:LGCY) has trended somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Legacy Reserves earned a coverage optimism score of 0.03 on Accern’s scale. Accern also assigned media headlines about the oil and gas producer an impact score of 44.4912190470438 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:

Shares of Legacy Reserves (NASDAQ LGCY) traded down $0.04 during trading hours on Thursday, reaching $2.25. The company had a trading volume of 127,684 shares, compared to its average volume of 470,462. Legacy Reserves has a 52 week low of $1.07 and a 52 week high of $2.60. The stock has a market cap of $167.57, a P/E ratio of -1.06 and a beta of 2.87. The company has a debt-to-equity ratio of -2.79, a quick ratio of 0.71 and a current ratio of 0.71.

Separately, ValuEngine downgraded Legacy Reserves from a “sell” rating to a “strong sell” rating in a report on Saturday, February 3rd. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Legacy Reserves presently has a consensus rating of “Hold” and an average target price of $1.88.

In other Legacy Reserves news, major shareholder Baines Creek Capital, Llc purchased 92,976 shares of Legacy Reserves stock in a transaction that occurred on Tuesday, January 9th. The shares were bought at an average price of $1.73 per share, for a total transaction of $160,848.48. Following the acquisition, the insider now directly owns 7,914,130 shares in the company, valued at $13,691,444.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have purchased 1,797,192 shares of company stock worth $4,084,063. 26.70% of the stock is 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.

Insider Buying and Selling by Quarter for Legacy Reserves (NASDAQ:LGCY)

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