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

NEW YORK ( TheStreet) -- The ex-dividend date for Legacy Reserves (Nasdaq: LGCY) is tomorrow, April 26, 2012. Owners of shares as of market close today will be eligible for a dividend of 56 cents per share. At a price of $29.10 as of 9:30 a.m. ET, the dividend yield is 7.7%.

The average volume for Legacy Reserves has been 122,500 shares per day over the past 30 days. Legacy Reserves has a market cap of $1.39 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 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 17.8, equal to the average energy industry P/E ratio and equal to 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 good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Legacy Reserves Ratings Report.

See our dividend calendar or top-yielding stocks list.
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