UBS Group AG decreased its stake in Legacy Reserves LP (NASDAQ:LGCY) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,167 shares of the oil and gas producer’s stock after selling 5,663 shares during the period. UBS Group AG’s holdings in Legacy Reserves were worth $145,000 as of its most recent SEC filing.

Shares of Legacy Reserves LP (LGCY) traded down 1.45% during mid-day trading on Friday, hitting $1.36. The stock had a trading volume of 21,141 shares. The firm’s 50 day moving average price is $1.34 and its 200 day moving average price is $1.90. The company’s market cap is $99.12 million. Legacy Reserves LP has a 1-year low of $1.13 and a 1-year high of $2.77.

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LGCY has been the topic of several recent analyst reports. Zacks Investment Research lowered Legacy Reserves from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Citigroup Inc. reiterated a “neutral” rating and set a $2.15 target price (down from $2.50) on shares of Legacy Reserves in a report on Monday, May 15th. FBR & Co reiterated a “hold” rating on shares of Legacy Reserves in a report on Tuesday, May 16th. Stifel Nicolaus lowered Legacy Reserves from a “hold” rating to a “sell” rating and reduced their target price for the stock from $2.00 to $1.00 in a report on Thursday, June 8th. Finally, ValuEngine lowered Legacy Reserves from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $1.96.

Legacy Reserves Company Profile

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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Institutional Ownership by Quarter for Legacy Reserves (NASDAQ:LGCY)

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