Zacks Investment Research lowered shares of Linn Energy LLC (NASDAQ:LINE) from a buy rating to a hold rating in a research report released on Wednesday morning, Analyst Ratings.Net reports.

According to Zacks, “Linn Energy, LLC is an independent oil and gas company focused on the development and acquisition of long-lived properties which complement its asset profile in producing basins within the United States. Its goal is to provide stability and growth in distributions to our unitholders through a combination of continued successful drilling and acquisitions. “

Shares of Linn Energy (NASDAQ:LINE) traded down 4.07% during midday trading on Wednesday, hitting $1.18. 1,506,965 shares of the company were exchanged. The stock’s market cap is $418.95 million. The stock’s 50-day moving average is $1.24 and its 200-day moving average is $2.73. Linn Energy has a one year low of $0.69 and a one year high of $14.93.

Linn Energy (NASDAQ:LINE) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.13. During the same quarter last year, the company earned $0.53 EPS. The business had revenue of $998 million for the quarter, compared to analyst estimates of $765.14 million. Equities research analysts anticipate that Linn Energy will post $1.27 EPS for the current year.

Several other research analysts have also commented on the stock. Barclays restated a hold rating on shares of Linn Energy in a research note on Friday, December 18th. Scotiabank restated a sector perform rating on shares of Linn Energy in a research note on Thursday, December 3rd. FBR & Co. assumed coverage on shares of Linn Energy in a research note on Wednesday, December 2nd. They set a sell rating on the stock. Finally, Stifel Nicolaus lowered shares of Linn Energy from a buy rating to a hold rating in a research note on Tuesday, October 6th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $5.88.

A number of hedge funds recently modified their holdings of the stock. Saba Capital Management increased its stake in shares of Linn Energy by 4.1% in the third quarter. Saba Capital Management now owns 1,002,400 shares of the company’s stock worth $2,696,000 after buying an additional 39,600 shares during the period. First Premier Bank acquired a new position in Linn Energy during the fourth quarter worth approximately $0. Commonwealth Equity Services increased its position in Linn Energy by 0.9% in the fourth quarter. Commonwealth Equity Services now owns 194,672 shares of the company’s stock worth $251,000 after buying an additional 1,743 shares during the last quarter. Gradient Investments acquired a new position in Linn Energy during the fourth quarter worth approximately $0. Finally, Simplex Trading increased its position in Linn Energy by 3.1% in the fourth quarter. Simplex Trading now owns 264 shares of the company’s stock worth $322,000 after buying an additional 8 shares during the last quarter.

Linn Energy, LLC (NASDAQ:LINE) is an oil and natural gas company. The Company is focused on acquiring, developing and maximizing cash flow from a portfolio of oil and natural gas assets. The Company’s properties are located in the United States, in the Rockies, the Hugoton Basin, California, east Texas and north Louisiana (TexLa), the Mid-Continent, the Permian Basin, Michigan/Illinois and south Texas. The Rockies region consists of properties located in Wyoming, northeast Utah, North Dakota and northwest Colorado (Piceance Basin). The California region consists of properties located in the Midway-Sunset, McKittrick, Poso Creek and South Belridge fields in the San Joaquin Valley Basin, as well as the Brea Olinda and Placerita fields in the Los Angeles Basin. The Mid-Continent region consists of properties located in the Anadarko and Arkoma basins in Oklahoma, as well as waterfloods in the Central Oklahoma Platform.

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