Legacy Reserves Lp (NASDAQ: LGCY) downgraded to Underperform by Oppenheimer
Oppenheimer downgraded Legacy Reserves Lp (NASDAQ: LGCY) to Underperform. Previously,
Oppenheimer rated Legacy Reserves Lp (NASDAQ: LGCY) to Perform on 09/04/2013, when the stock price was valued at $26.85.
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.
Funds, Inc. has been helping investors achieve their financial goals since 1960. We are one of the nation's largest and most respected asset management companies.
Funds, we believe that in order for you to reach your financial goals, your investments must perform. That is why investment excellence—over the long term and across the range of our products—is our highest priority.
Funds and its controlled affiliates offer a broad range of products and services to individuals, corporations and institutions, including mutual funds, separately managed accounts, investment management for institutions, hedge fund products, qualified retirement plans and subadvisory investment-management services.