Home / Basic Materials / Legacy Reserves LP (LGCY) Leads Basic Materials Laggards with a drop of 3.36% on September 22

Legacy Reserves LP (LGCY) Leads Basic Materials Laggards with a drop of 3.36% on September 22

Legacy Reserves LP (LGCY” target=”_new”>LGCY) was one of the weakest stocks in the basic materials sector of the NYSE and NASDAQ listed companies on September 22, skidding 3.36% to close the day at $1.44 after closing the day prior at $1.49. Throughout the day, shares of LGCY” target=”_new”>LGCY traded as high as $1.63 and as low as $1.44. Today’s decline came with about 390,118 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 $1.52 for LGCY” target=”_new”>LGCY.

The share depreciation 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.

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 $1.44, shares of LGCY” target=”_new”>LGCY are trading below 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 below them is typically regarded as bearish.

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 in Midland, TX.

For more information on LGCY and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

All data provided by QuoteMedia, with stock data accurate as of 4:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.

About FinancialPress.com

FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at FinancialPress.com

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of FinancialPress.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://financialpress.com/legal-disclaimer/.

Check Also

Shares of TSX Venture Miscellaneous Company Yangarra Resources Ltd. (TSX:YGR:CA) Fall 4.65% on September 29

In sliding 4.65%, Yangarra Resources Ltd. (TSX:YGR:CA) was one of the worst performing stocks in …