LGCY - Legacy Reserves: Continued Progress Looks Promising
Lately, the management team at Legacy Reserves (LGCY) has been making some rather interesting moves behind the scenes, moves geared toward reducing debt and ultimately lowering the firm's risk. While this maneuvering has come at a small cost to shareholders, the strategy employed by the firm warrants some consideration because, if applied successfully on a large scale, could result in significant de-risking of the investment. Admittedly, this would result in limited upside for the oil and gas firm, but for some investors, this move might be worth taking.