Legacy Reserves increases quarterly distribution to 57c per unit Legacy Reserves announced that the board of its general partner has approved a cash distribution attributable to 4Q12 of 57c per unit, payable on February 14 to unitholders of record at the close of business on February 1. This quarterly distribution is a 0.5c increase from the prior quarter and represents an annualized distribution of $2.28 per unit. On a year-over-year basis, Legacy's quarterly distribution has increased 3.6%.
Legacy Reserves removed from Stifel Select List at Stifel Stifel removed Legacy Reserves from its Select List after lowering its long-term oil price forecast to $80 per barrel from $90 per barrel. However, the firm continues to believe that the company has a number of long-term positive catalysts, and it reiterates a Buy rating on the shares. Target to $27 from $33.