Did your broker recommend purchasing Legacy Reserves LP (LGCYP)?
Legacy’s 52 week range was 4.97 - 21.90.
Legacy Reserves LP owns and operates oil and natural gas properties in the United States. As of December 31, 2014, the company owned interests in producing oil and natural gas properties in 665 fields comprising 11,121 gross productive wells, including 3,919 operated and 7,202 non-operated wells located in the Permian Basin, Texas Panhandle, Wyoming, North Dakota, Montana, the Piceance Basin of Colorado, Oklahoma, and other states. It had proved reserves of approximately 139.0 million barrels of crude oil equivalent. Legacy Reserves GP, LLC serves as the general partner of the company. Legacy Reserves LP, founded in 2005, is headquartered in Midland, Texas
The business of this master limited partnership (MLP) is definitely correlated with oil and gas prices. Crude prices have been low since the mid-2014. Natural gas has also not fared well. Both of these commodities are weak, and most of the analysts are not projecting a price recovery soon. Since Legacy Reserves LP (LGCYP) generates cash flows after selling the commodities, the partnership is not expected to perform well in the near future. The partnership reported second-quarter 2015 loss of 63 cents, and last year at the same time the loss was 33 cents.
We are also monitoring losses in related bonds to Legacy Reserves LP such as:
If your broker or financial advisor placed your otherwise conservative portfolio into high-risk oil and gas stocks such as Legacy Reserves LP (LGCYP), call Soreide Law Group for a consultation with an attorney on the possibility of recovering your losses at: 888-760-6552.
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