VisionPoint Advisory Group LLC purchased a new position in Legacy Reserves Inc (NASDAQ:LGCY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 66,375 shares of the oil and gas producer’s stock, valued at approximately $102,000. VisionPoint Advisory Group LLC owned approximately 0.06% of Legacy Reserves as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LGCY. FMR LLC lifted its position in Legacy Reserves by 7.7% in the 3rd quarter. FMR LLC now owns 10,504,004 shares of the oil and gas producer’s stock valued at $50,944,000 after acquiring an additional 747,682 shares in the last quarter. Morgan Stanley lifted its position 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 valued at $1,655,000 after acquiring an additional 248,878 shares in the last quarter. Blair William & Co. IL bought a new position in Legacy Reserves in the 3rd quarter valued at approximately $959,000. Geode Capital Management LLC lifted its position in Legacy Reserves by 254.0% in the 4th quarter. Geode Capital Management LLC now owns 142,689 shares of the oil and gas producer’s stock valued at $219,000 after acquiring an additional 102,380 shares in the last quarter. Finally, Blackstone Group L.P. bought a new position in Legacy Reserves in the 3rd quarter valued at approximately $485,000. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

LGCY has been the topic of several analyst reports. Zacks Investment Research cut Legacy Reserves from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 21st. ValuEngine raised Legacy Reserves from a “strong sell” rating to a “sell” rating in a report on Saturday, February 2nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Legacy Reserves currently has a consensus rating of “Hold”.

Shares of NASDAQ LGCY traded up $0.05 during midday trading on Friday, hitting $0.63. 32,225 shares of the stock traded hands, compared to its average volume of 1,100,976. The stock has a market capitalization of $68.06 million, a price-to-earnings ratio of -1.26 and a beta of 1.71. Legacy Reserves Inc has a one year low of $0.58 and a one year high of $10.54.

In other news, major shareholder Baines Creek Capital, Llc purchased 71,137 shares of the stock in a transaction dated Monday, March 11th. The shares were purchased at an average cost of $1.25 per share, with a total value of $88,921.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought a total of 1,141,923 shares of company stock worth $1,564,398 over the last three months. Insiders own 40.60% of the company’s stock.

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Legacy Reserves 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. Its operations focus on the horizontal development of unconventional plays in the Permian Basin and the management of shallow-decline oil and natural gas wells in the Permian Basin, East Texas, Rocky Mountain, and Mid-Continent regions.

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

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