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A statement released earlier today by Stifel about Legacy Reserves (NASDAQ:LGCY) bumps the target price to $0.50

Legacy Reserves (NASDAQ:LGCY) had its price target upped to $1 by Stifel in an issued report released 9/19/2016. The updated target price indicates a possible downside of -0.69% based on the company’s most recent closing price.

Displaying a price of $1.61, Legacy Reserves (NASDAQ:LGCY) traded 2.42% lower on the day. The last close is down 8.47% relative to the two hundred day moving average, compared with the S&P 500 Index which has decreased -0.01% over the date range. LGCY has logged a 50-day moving average of $1.62 and 200-day moving average of $1.76. 221,296 shares of LGCY exchanged hands, down from ann average trading volume of 574,889

Recent Performance Graph:

Legacy Reserves (NASDAQ:LGCY)

Legacy Reserves has a one-year low of $0.61 and a one-year high of $6.12. Legacy Reserves’s total market value is currently $0.0.

In addition to Stifel reporting it’s stock price target, a total of 6 brokerages have reported on the stock. The one year target price is $2.21 with 0 rating the company a strong buy, 0 rating the stock a buy, five firms rating the stock a hold, one firm rating the stock to underperform, and lastly two firmsrating the stock as sell.

More About Legacy Reserves (NASDAQ:LGCY)

Legacy Reserves LP (Legacy) is a master limited partnership company. The Company is focused on the acquisition and development of oil and natural gas properties located in the Permian Basin, Rocky Mountain and Mid-Continent regions of the United States. The Company has proved reserves of approximately 164.2 million barrels of crude oil equivalent (MMBoe), of which over 73% are natural gas, approximately 27% are oil and natural gas liquids (NGLs) and over 97% are classified as proved developed producing. The Company has completed approximately 140 acquisitions of oil and natural gas properties. It owns interests in producing oil and natural gas properties in over 720 fields in the Permian Basin, East Texas, Piceance Basin of Colorado, Texas Panhandle, Wyoming, North Dakota, Montana, Oklahoma and several other states. Legacy’s fields and regions include East Texas, Spraberry/War San, Piceance Basin, Lea, Texas Panhandle, Deep Rock, Shafter Lake, Jalmat, and Winchester and Denton.

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