Legacy Reserves boosts distribution .5c to 59c per unit Legacy Reserves announced that the board of its general partner has approved a cash distribution attributable to Q4 of 59c per unit, payable on February 14, to unitholders of record at the close of business on February 3. This quarterly distribution is a .5c increase from the prior quarter and represents an annualized distribution of $2.36 per unit
Legacy Reserves downgraded to Outperform from Top Pick at RBC Capital RBC Capital downgraded Legacy Reserves to Outperform following mixed Q3 results citing lower crude oil price headwinds. Price target lowered to $28 from $36.
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.