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Legacy Reserves (LGCY) Jumps: Stock Rises 6.5%

Legacy Reserves Inc. LGCY was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company as the stock is now down 37.3% in the past one-month time frame.  

The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Legacy Reserves currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.  

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A better-ranked stock in the Oil and Gas - Exploration and Production - United States industry is Cabot Oil & Gas Corporation COG, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Legacy Reserves LP (LGCY) : Free Stock Analysis Report
 
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