Legacy Reserves Stock To Go Ex-dividend Tomorrow (LGCY)

NEW YORK ( TheStreet) -- The ex-dividend date for Legacy Reserves (Nasdaq: LGCY) is tomorrow, April 28, 2011. Owners of shares as of market close today will be eligible for a dividend of 53 cents per share. At a price of $33.49 as of 9:31 a.m. ET, the dividend yield is 6.4%.

The average volume for Legacy Reserves has been 123,400 shares per day over the past 30 days. Legacy Reserves has a market cap of $1.4 billion and is part of the basic materials sector and energy industry. Shares are up 16.3% year to date as of the close of trading on Tuesday.

Legacy Reserves LP, an independent oil and natural gas limited partnership, engages in the acquisition and development of oil and natural gas properties, primarily located in the Permian Basin, Mid-continent, and Rocky Mountain regions of the United States. The company has a P/E ratio of 123.1, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 16.7.
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TheStreet Ratings rates Legacy Reserves as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, good cash flow from operations, solid stock price performance and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Legacy Reserves Ratings Report.

See our dividend calendar or top-yielding stocks list.

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