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Enter Symbol:
 
Legacy Reserves Lp (LGCY) [hlAlert]

Rating:
Mkt Perform
LGCY
down 69.01 %

Legacy Reserves Lp (LGCY) downgraded to Mkt Perform by Friedman Billings

Posted on: Tuesday,  Dec 9, 2008  8:25 AM ET by Friedman Billings

Friedman Billings rated Mkt Perform Legacy Reserves Lp (NASDAQ: LGCY) on 12/09/2008. Previously Friedman Billings rated Outperform Legacy Reserves Lp (NASDAQ: LGCY)
on 07/01/2008., when the stock price was $24.85. Since then, Legacy Reserves Lp has lost 69.01% as of 12/09/2008's recent price of $7.70.
If you would have followed the previous Friedman Billings's recommendation on LGCY, you would have lost 69.01% of your investment in 161 days.

Legacy Reserves LP (Legacy) is an independent oil and natural gas company focused on the acquisition and exploitation of oil and natural gas properties primarily located in the Permian Basin and Mid-continent regions of the United States. The Company has two activities: the acquisition of producing oil and natural gas properties, and the development of producing properties. As of December 31, 2008, the Company had proved reserves of approximately 30.8 million barrels of oil equivalent (MMBoe), of which 68% were oil and natural gas liquids and 89% were classified as proved developed producing, 2% were proved developed non-producing, and 9% were proved undeveloped. On October 1, 2008, the Company completed the acquisition of 100% membership interests of Pantwist, LLC from Cano Petroleum, Inc.

FBR Capital Markets is a full service investment banking, institutional sales, trading and research and asset management firm with a customer-focused and innovative approach to meeting its clients needs. It focuses its banking, advisory, trading and research efforts on seven broad industry sectors including consumer, diversified industrials, energy & natural resources, financial institutions, insurance, real estate and technology, media & telecom. With our headquarters in the Washington, D.C. metropolitan area, our Economic and Washington Policy Analysis groups offer clients a comprehensive overview of national economic trends along with a unique perspective on the impact that legislation and regulation will have on industry sectors and individual companies
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/9/2008 8:25 AM Hold
None
7.70
as of 12/24/2008
1 Week down  -1.61 %
1 Month up  14.88 %
3 Months up  3.34 %
1 YTD up  37.80 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/1/2008 8:25 AM Buy
None
24.85 30.00
1/10/2008 8:25 AM Buy
None
20.59 28.00

(*) Stock Price at the time of the recommendation.
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