Legacy Reserves LP Unit (NASDAQ:LGCY) – Research analysts at Seaport Global Securities issued their Q3 2018 earnings estimates for shares of Legacy Reserves LP Unit in a research report issued on Wednesday, September 19th, according to Zacks Investment Research. Seaport Global Securities analyst M. Kelly anticipates that the oil and gas producer will earn $0.31 per share for the quarter. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Legacy Reserves LP Unit’s Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $0.65 EPS, Q1 2019 earnings at $0.16 EPS, Q2 2019 earnings at $0.17 EPS, Q3 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.27 EPS, FY2019 earnings at $0.81 EPS, Q1 2020 earnings at $0.25 EPS, Q2 2020 earnings at $0.22 EPS and FY2020 earnings at $0.89 EPS.
Legacy Reserves LP Unit (NASDAQ:LGCY) last posted its earnings results on Wednesday, August 1st. The oil and gas producer reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.17). Legacy Reserves LP Unit had a negative net margin of 8.74% and a negative return on equity of 1.87%. The company had revenue of $139.28 million for the quarter.
LGCY has been the topic of several other reports. BidaskClub lowered Legacy Reserves LP Unit from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 24th. ValuEngine lowered Legacy Reserves LP Unit from a “buy” rating to a “hold” rating in a report on Monday, July 2nd.
NASDAQ LGCY traded up $0.05 during trading on Friday, hitting $5.01. 287,860 shares of the company traded hands, compared to its average volume of 620,980. Legacy Reserves LP Unit has a 12 month low of $1.07 and a 12 month high of $10.54. The company has a debt-to-equity ratio of -1.63, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $373.11 million, a P/E ratio of -10.02 and a beta of 1.82.
Several institutional investors have recently bought and sold shares of the company. FMR LLC increased its stake in shares of Legacy Reserves LP Unit by 7.2% in the second quarter. FMR LLC now owns 9,756,322 shares of the oil and gas producer’s stock worth $67,319,000 after purchasing an additional 652,818 shares during the period. Hennessy Advisors Inc. acquired a new stake in Legacy Reserves LP Unit during the second quarter worth about $4,477,000. X Square Capital LLC acquired a new stake in Legacy Reserves LP Unit during the first quarter worth about $587,000. Raymond James & Associates grew its position in Legacy Reserves LP Unit by 33.1% during the second quarter. Raymond James & Associates now owns 103,886 shares of the oil and gas producer’s stock worth $717,000 after buying an additional 25,826 shares in the last quarter. Finally, Navellier & Associates Inc acquired a new stake in Legacy Reserves LP Unit during the second quarter worth about $653,000. Institutional investors and hedge funds own 21.28% of the company’s stock.
In other Legacy Reserves LP Unit news, major shareholder Baines Creek Capital, Llc acquired 37,820 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were acquired at an average cost of $5.42 per share, for a total transaction of $204,984.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Micah C. Foster sold 54,605 shares of Legacy Reserves LP Unit stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $4.68, for a total value of $255,551.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 733,010 shares of company stock worth $3,711,014 and have sold 1,524,115 shares worth $7,132,858. 40.60% of the stock is owned by company insiders.
Legacy Reserves LP Unit Company Profile
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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