An issue of Linn Energy (NASDAQ:LINE) debt fell 2% against its face value during trading on Friday, Marketbeat.com reports. The high-yield issue of debt has a 6.5% coupon and is set to mature on September 15, 2021. The bonds in the issue are now trading at $76.25 and were trading at $80.50 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley initiated coverage on shares of Linn Energy in a research note on Monday, June 1st. They set an “equal weight” rating and a $11.00 price target on the stock. Analysts at Goldman Sachs downgraded shares of Linn Energy from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock in a research note on Monday, May 18th. Analysts at Zacks upgraded shares of Linn Energy from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, May 15th. Finally, analysts at JPMorgan Chase & Co. reiterated a “hold” rating and set a $9.00 price target (down previously from $10.00) on shares of Linn Energy in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.00.
Linn Energy (NASDAQ:LINE) opened at 10.68 on Friday. Linn Energy has a 52 week low of $9.05 and a 52 week high of $32.74. The stock has a 50-day moving average of $12. and a 200-day moving average of $12.. The company’s market cap is $3.60 billion.
Linn Energy (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.31. The company had revenue of $917.00 million for the quarter, compared to the consensus estimate of $762.99 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. On average, analysts predict that Linn Energy will post $0.24 earnings per share for the current fiscal year.
The company also recently announced a jun 15 dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.1042 per share. This represents a dividend yield of 11.84%. The ex-dividend date is Tuesday, June 9th.
Linn Energy, LLC, is an independent oil and natural gas company. The Company is focused to acquire, develop and maximize cash flow from a growing portfolio of long-life oil and natural gas assets. Company’s proved reserves at December 31, 2013, were approximately 6,403 Bcfe, of which approximately 34% were oil, 47% were natural gas and 19% were natural gas liquids (NASDAQ:LINE).
