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 September 16, 2015, to unitholders of record as of the close of business on September 11, 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 September 17, 2015, to shareholders of record as of the close of business on September 11, 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 $3.43, down $0.08 or 2.28%. LINE has a 1-year high of $31.80 and a 1-year low of $2.01. The stock’s 50-day moving average is $4.24 and its 200-day moving average is $9.13.
On the ratings front, Linn Energy has been the subject of a number of recent research reports. In a report issued on August 14, RBC analyst John Ragozzino downgraded LINE to Hold, with a price target of $5, which represents a potential upside of 45.8% from where the stock is currently trading. Separately, on August 3, Citigroup’s Faisel Khan maintained a Hold rating on the stock and has a price target of $5.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, John Ragozzino and Faisel Khan have a total average return of -20.9% and 18.1% respectively. Ragozzino has a success rate of 44.4% and is ranked #3540 out of 3742 analysts, while Khan has a success rate of 80.0% and is ranked #246.
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.