Linn Energy LLC (NASDAQ:LINE) and LinnCo LLC (NASDAQ:LNCO) announced monthly distributions and dividends, respectively.
LINN Energy, LLC declared a monthly cash distribution of $0.1042 per unit, or $1.25 per unit on an annualized basis, for all of its outstanding units. The distribution will be payable August 18, 2015, to unitholders of record as of the close of business on August 13, 2015.
LinnCo, LLC declared a monthly cash dividend of $0.1042 per common share, or $1.25 per share on an annualized basis, for all of its outstanding common shares. The dividend will be payable August 19, 2015, to shareholders of record as of the close of business on August 13, 2015.
As previously announced, LINN Energy’s management intends to recommend to its Board of Directors that it suspend LINN Energy’s distribution, and subsequently LinnCo’s dividend, at the end of the third quarter of 2015. (Original Source)
Shares of Linn Energy closed today at $3.28, down $0.76 or 18.81%. LINE has a 1-year high of $31.80 and a 1-year low of $3.26. The stock’s 50-day moving average is $8.03 and its 200-day moving average is $10.55.
On the ratings front, Linn Energy has been the subject of a number of recent research reports. In a report issued on July 31, Credit Suisse analyst Abhiram Rajendran downgraded LINE to Sell, with a price target of $5, which implies an upside of 52.4% from current levels. Separately, on the same day, J.P. Morgan’s Gabriel Daoud downgraded the stock to Sell .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Abhiram Rajendran and Gabriel Daoud have a total average return of 17.1% and 31.3% respectively. Rajendran has a success rate of 73.7% and is ranked #785 out of 3724 analysts, while Daoud has a success rate of 57.1% and is ranked #1022.
Linn Energy LLC is an independent oil and natural gas company. The Company’s properties are located in United States in Rockies, Hugoton Basin, California, East Texas and north Louisiana, Mid-Continent, Permian Basin, Michigan/Illinois and South Texas.