Somewhat Positive Media Coverage Somewhat Unlikely to Impact Legacy Reserves (NASDAQ:LGCY) Stock Price
Media headlines about Legacy Reserves (NASDAQ:LGCY) have been trending somewhat positive on Tuesday, according to Accern. Accern ranks the sentiment of media coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Legacy Reserves earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned headlines about the oil and gas producer an impact score of 45.8882107775127 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the headlines that may have effected Accern Sentiment Analysis’s rankings:
- Legacy Reserves LP (LGCY) Sees The Tape Move Mid-Market – Evergreen Caller (evergreencaller.com)
- Legacy Reserves: A Big Transformation – Seeking Alpha (seekingalpha.com)
- Legacy Reserves LP (LGCY) Ichimoku Reveals Negative Momentum – Evergreen Caller (evergreencaller.com)
- Legacy Reserves LP – Units Repr (NASDAQ:LGCY) Sees Heavy Trading Volume with 211K Shares Changing Hands – Modern Readers (modernreaders.com)
- Legacy Reserves LP (LGCY) Key Indicators And Emerging Themes – StockNewsGazette (stocknewsgazette.com)
LGCY has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Legacy Reserves from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. Citigroup Inc. reaffirmed a “neutral” rating and issued a $2.15 price objective (down from $2.50) on shares of Legacy Reserves in a research note on Monday, May 15th. FBR & Co reaffirmed a “hold” rating on shares of Legacy Reserves in a research note on Tuesday, May 16th. Stifel Nicolaus cut shares of Legacy Reserves from a “hold” rating to a “sell” rating and reduced their price objective for the company from $2.00 to $1.00 in a research note on Thursday, June 8th. Finally, ValuEngine cut shares of Legacy Reserves from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. Legacy Reserves presently has a consensus rating of “Hold” and an average target price of $1.96.
Shares of Legacy Reserves (LGCY) traded down 0.68% during trading on Tuesday, hitting $1.45. 224,097 shares of the stock were exchanged. The firm’s 50 day moving average price is $1.34 and its 200-day moving average price is $1.93. Legacy Reserves has a 52 week low of $1.13 and a 52 week high of $2.77. The stock’s market cap is $105.30 million.
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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.
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