Shares of Legacy Reserves Inc (NASDAQ:LGCY) have been given an average rating of “Hold” by the five brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company.

Several equities research analysts have recently weighed in on the company. TheStreet upgraded Legacy Reserves from a “d+” rating to a “c” rating in a report on Tuesday, March 19th. ValuEngine raised Legacy Reserves from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. Finally, Zacks Investment Research cut Legacy Reserves from a “hold” rating to a “strong sell” rating in a research report on Friday, March 22nd.

Shares of NASDAQ LGCY traded up $0.03 during midday trading on Friday, hitting $0.37. The company’s stock had a trading volume of 5,624 shares, compared to its average volume of 546,744. Legacy Reserves has a 12-month low of $0.33 and a 12-month high of $10.54. The company has a market cap of $41.91 million, a price-to-earnings ratio of 2.03 and a beta of 1.55.

Legacy Reserves (NASDAQ:LGCY) last issued its quarterly earnings results on Monday, March 18th. The oil and gas producer reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Legacy Reserves had a negative return on equity of 3.66% and a negative net margin of 18.46%. The business had revenue of $132.89 million during the quarter, compared to analysts’ expectations of $146.80 million. Research analysts expect that Legacy Reserves will post -0.28 EPS for the current year.

In other news, major shareholder Baines Creek Capital, Llc bought 252,514 shares of Legacy Reserves stock in a transaction that occurred on Wednesday, March 27th. The stock was bought at an average price of $0.50 per share, for a total transaction of $126,257.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased a total of 1,274,651 shares of company stock valued at $972,698 in the last 90 days. 40.60% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Two Sigma Advisers LP purchased a new position in Legacy Reserves in the 4th quarter worth $43,000. Morgan Stanley raised its stake in Legacy Reserves by 269.4% in the 3rd quarter. Morgan Stanley now owns 341,247 shares of the oil and gas producer’s stock worth $1,655,000 after acquiring an additional 248,878 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Legacy Reserves during the 4th quarter valued at about $60,000. JPMorgan Chase & Co. raised its stake in shares of Legacy Reserves by 2,449.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,979 shares of the oil and gas producer’s stock valued at $247,000 after buying an additional 48,979 shares during the last quarter. Finally, Pensionmark Financial Group LLC purchased a new position in shares of Legacy Reserves during the 4th quarter valued at about $2,340,000. Institutional investors own 39.38% of the company’s stock.

Legacy Reserves Company Profile

Legacy Reserves Inc, an independent energy company, engages in the acquisition, development, and production of oil and natural gas properties in the United States. It focuses on the horizontal development of unconventional plays in the Permian Basin and the management of shallow-decline oil and natural gas wells in the regions of Permian Basin, East Texas, Rocky Mountain, and Mid-Continent.

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