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Linn Energy (LINE) Next Great Play on the High Price of Oil -Cramer
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On last night's Mad Money, Jim Cramer provided an update on a stock he was stumped on recently: Linn Energy (Nasdaq: LINE). Cramer found out that he likes Linn, calling it "the next great play on the high price of oil."
Cramer mentions several factors that should keep shares of Linn afloat: a "monster 10.5% dividend yield", 1.7 trillion cubic feet of proven natural gas reserves and the potential for a future buyback program. Jim said he also likes Linn as its management has recently been extremely focused on its turnaround, which has created a situation where the company is selling its non-core assets in order to focus on its higher-margin, core operations.
With only about 6 analysts covering the stock, Cramer believes Wall Street has "largely ignored the stock" making it a great time to invest before the analysts start initiating coverage.
Linn Energy, LLC, through its subsidiaries, engages in the development and acquisition of gas and oil properties in the United States.
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