Analysts at MLV & Co initiated coverage on shares of Legacy Reserves (NASDAQ: LGCY) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating and a $30.00 price target on the stock.
Separately, analysts at Global Hunter Securities initiated coverage on shares of Legacy Reserves in a research note to investors on Tuesday, April 17th. They set an “accumulate” rating and a $31.00 price target on the stock.
Legacy Reserves traded down 1.92% on Tuesday, hitting $26.05. Legacy Reserves has a 1-year low of $22.00 and a 1-year high of $32.31. The company has a market cap of $1.249 billion and a price-to-earnings ratio of 8.60.
Legacy Reserves last released its earnings data on Wednesday, May 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.29. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts expect that Legacy Reserves will post $0.52 EPS next quarter.
Legacy Reserves LP (Legacy) is an independent oil and natural gas limited partnership, and is focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, Mid-continent and Rocky Mountain regions of the United States.