LINN Energy Announces 2015 Oil and Gas Capital Budget; Reduces Annual Distribution to $1.25 Per Unit

LINN Energy, LLC (Nasdaq:LINE) (“LINN” or the “Company”) and LinnCo, LLC (Nasdaq:LNCO) (“LinnCo”) announced today that LINN’s Board of Directors has approved a 2015 budget which includes a 53% reduction in oil and natural gas capital expenditures to $730 million, from approximately $1.55 billion in 2014, and a reduction of the LINN distribution and LinnCo dividend to $1.25 per unit or share, from the previous level of $2.90 per unit or share, on an annualized basis. LINN expects to fund its total 2015 oil and natural gas capital program, along with the distribution, from internally generated cash flow… Read more

Shares of Linn Energy closed last Wednesday at $10.13 . LINE hasa 1-year high of $34.08 and a 1-year low of $9.17. The stock’s 50-day moving average is $16.02 and it’s 200-day moving average is $25.35.

On the ratings front, Linn Energy has been the subject of a number of recent research reports. In a report published on December 25, analyst Praneeth Satish from Wells Fargo maintained a Hold rating on LINE. Separately, on December 16, Robert W. Baird`s Ethan Bellamy downgraded Linn Energy shares to Hold.

6 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is 10.13$ which is 418.3% above where the stock closed last Wednesday.

Linn Energy LLC is an oil and natural gas company. It is an oil and natural gas company, which seeks to acquire, develop and maximize cash flow from a growing portfolio of long-life oil and natural gas assets.

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