Baines Creek Capital, Llc Acquires 18,271 Shares of Legacy Reserves LP (LGCY) Stock

Legacy Reserves LP (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc acquired 18,271 shares of the business’s stock in a transaction that occurred on Thursday, March 29th. The shares were purchased at an average cost of $4.75 per share, for a total transaction of $86,787.25. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Baines Creek Capital, Llc also recently made the following trade(s):

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  • On Friday, March 23rd, Baines Creek Capital, Llc acquired 75,307 shares of Legacy Reserves stock. The shares were purchased at an average cost of $4.48 per share, for a total transaction of $337,375.36.
  • On Monday, March 26th, Baines Creek Capital, Llc bought 485,455 shares of Legacy Reserves stock. The shares were bought at an average cost of $4.90 per share, for a total transaction of $2,378,729.50.
  • On Monday, March 19th, Baines Creek Capital, Llc bought 43,300 shares of Legacy Reserves stock. The shares were bought at an average cost of $3.95 per share, for a total transaction of $171,035.00.
  • On Wednesday, March 21st, Baines Creek Capital, Llc bought 192,720 shares of Legacy Reserves stock. The shares were bought at an average cost of $4.13 per share, for a total transaction of $795,933.60.
  • On Friday, March 16th, Baines Creek Capital, Llc bought 333,000 shares of Legacy Reserves stock. The shares were bought at an average cost of $3.82 per share, for a total transaction of $1,272,060.00.
  • On Monday, March 12th, Baines Creek Capital, Llc bought 100,000 shares of Legacy Reserves stock. The shares were bought at an average cost of $4.07 per share, for a total transaction of $407,000.00.
  • On Thursday, March 8th, Baines Creek Capital, Llc bought 274,000 shares of Legacy Reserves stock. The shares were bought at an average cost of $4.10 per share, for a total transaction of $1,123,400.00.
  • On Friday, March 2nd, Baines Creek Capital, Llc bought 210,128 shares of Legacy Reserves stock. The shares were bought at an average cost of $3.91 per share, for a total transaction of $821,600.48.
  • On Monday, March 5th, Baines Creek Capital, Llc bought 434,137 shares of Legacy Reserves stock. The shares were bought at an average cost of $3.96 per share, for a total transaction of $1,719,182.52.
  • On Wednesday, February 28th, Baines Creek Capital, Llc bought 540,262 shares of Legacy Reserves stock. The shares were bought at an average cost of $3.52 per share, for a total transaction of $1,901,722.24.

Shares of NASDAQ:LGCY opened at $4.71 on Friday. Legacy Reserves LP has a 12 month low of $1.07 and a 12 month high of $5.43. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of -2.69.

Legacy Reserves (NASDAQ:LGCY) last announced its earnings results on Wednesday, February 21st. The oil and gas producer reported ($0.23) EPS for the quarter. The business had revenue of $137.09 million during the quarter.

Hedge funds have recently bought and sold shares of the company. RR Advisors LLC raised its position in shares of Legacy Reserves by 40.5% in the 3rd quarter. RR Advisors LLC now owns 850,000 shares of the oil and gas producer’s stock worth $1,292,000 after acquiring an additional 245,000 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Legacy Reserves in the 3rd quarter worth about $430,000. Finally, Virtu Financial LLC bought a new position in shares of Legacy Reserves in the 4th quarter worth about $110,000. 20.68% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have commented on LGCY. ValuEngine raised Legacy Reserves from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. BidaskClub raised Legacy Reserves from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $1.58.

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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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