NEW YORK ( TheStreet) -- The ex-dividend date for Legacy Reserves (Nasdaq: LGCY) is tomorrow, January 27, 2012. Owners of shares as of market close today will be eligible for a dividend of 55 cents per share. At a price of $29.06 as of 9:30 a.m. ET, the dividend yield is 7.6%. The average volume for Legacy Reserves has been 200,700 shares per day over the past 30 days. Legacy Reserves has a market cap of $1.27 billion and is part of the basic materials sector and energy industry. Shares are up 2.7% year to date as of the close of trading on Wednesday. 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 11.4, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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, compelling growth in net income, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Legacy Reserves Ratings Report. See our dividend calendar or top-yielding stocks list.