Legacy Reserves LP (LGCY” target=”_new”>LGCY) is one of the best performing stocks in the basic materials sector for companies listed on the New York Stock Exchange or NASDAQ exchange shortly after the opening bell on September 22. Shares of LGCY” target=”_new”>LGCY have climbed 8.85% about 30 minutes into the session to $1.62 after closing the day prior at $1.49. It’s early, but the stock has traded as high as $1.62 and as low as $1.51 so far. Today’s quick advance has come with about 63,833 shares changing hands, compared to an average 30-day volume of 455,265 for Legacy Reserves LP. The price is currently below the 30-day volume weighted average price of $1.58 for LGCY” target=”_new”>LGCY.
The share appreciation gives the company a market capitalization of $107.89 million based upon 72.41 million shares outstanding. It also means that LGCY has a price-to-book ratio of 0.51:1 and a price-to-earnings ratio of :1.
In the past 52 weeks, shares of LGCY” target=”_new”>LGCY have traded as low as $0.61 and as high as $6.12. Technical traders will take note that at $1.62, shares of LGCY” target=”_new”>LGCY are trading above their 200-day MA at $1.61 and below their 50-day MA at $1.63. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is LGCY?
Legacy Reserves LP is engaged in the acquisition and development of oil and natural gas properties located in the Permian Basin, Mid-continent, East Texas and Rocky Mountain regions of the United States. The company’s 379 employees are led by CEO Paul T. Horne from the corporate headquarters at 303 W. Wall Street.
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