Zacks Rating on Linn Energy, LLC

Linn Energy, LLC (LINE) of the Basic Materials sector is down -8.61% (change from open -5.84%) this morning trading at a volume of 1,701,533 shares and price of $4.35. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock.

Linn Energy, LLC (NASDAQ:LINE) is a hold, as reported by the latest average broker rating of 2.7. The high-yield issue of debt has a 7.75% coupon and is set to mature on February 1, 2021. Furthermore, Bolton Lp have 0.69% of their stocks portfolio invested in the company for 239,200 shares. Stockholders of record on Monday, July 13th were paid a dividend of $0.1042 per share. Zacks raised shares of LinnCo from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Wednesday, June 10th. The ex-dividend date was Thursday, July 9th.

LINN Energy said it has undertaken a comprehensive cost reduction initiative that has already generated significant savings. Finally, Raymond James downgraded shares of Linn Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday.

LinnCo, LLC (NASDAQ:LNCO), owns units representing limited liability company interests (units) in its affiliate, Linn Energy, LLC (LINN Energy). This is the lowest price since trading commenced in 2006. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

On a technical level the stock has a 50 Day Moving Average of 8.50. N/A, a NMS listed company, has a current market cap of 1.58B and on average over the past 3 months has seen 3306050 shares trade hands on a daily basis.

So what: Analysts from both Credit Suisse and J.P. Morgan downgraded LINN Energy’s units today after the company suspended distribution payments. The Company’s proved reserves at December 31, 2013 were approximately 6,403 billions of cubic feet equivalents (BCFE), of which approximately 34% were oil, 47% were natural gas and 19% were natural gas liquids (NGL). Approximately 68% were classified as proved developed. The company is also focused on reducing cash flow volatility through hedging. On July 31, 2012, the Company completed the acquisition of certain oil and natural gas properties in the Jonah Field located in the Green River Basin of southwest Wyoming from BP America Production Company (BP).