ValuEngine lowered shares of Legacy Reserves (NASDAQ:LGCY) from a sell rating to a strong sell rating in a report published on Thursday.

Legacy Reserves (NASDAQ LGCY) remained flat at $$1.26 on Thursday. The company had a trading volume of 324,560 shares, compared to its average volume of 205,969. The company has a debt-to-equity ratio of -2.79, a quick ratio of 0.71 and a current ratio of 0.71. Legacy Reserves has a fifty-two week low of $1.08 and a fifty-two week high of $2.77.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. RR Advisors LLC raised its stake in shares of Legacy Reserves by 40.5% during the third quarter. RR Advisors LLC now owns 850,000 shares of the oil and gas producer’s stock worth $1,292,000 after buying an additional 245,000 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in Legacy Reserves in the third quarter valued at approximately $430,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Legacy Reserves by 123.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 68,952 shares of the oil and gas producer’s stock valued at $101,000 after purchasing an additional 38,110 shares in the last quarter. 20.30% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This article was posted by Watch List News and is the property of of Watch List News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Legacy Reserves Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legacy Reserves and related companies with's FREE daily email newsletter.