LinnCo (LNCO) Lowers Monthly Dividend 56.9% to $0.1042; 12.1% Yield
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LINN Energy (LINE), LinnCo (LNCO) PTs Cut to $12 at Credit Susise; M&A Optionality Keeps Them from Downgrading
January 5, 2015 10:11 AM ESTCredit Suisse cut its price target on both Neutral-rated LINN Energy (NASDAQ: LINE) and LinnCo (NASDAQ: LNCO)
to $12 (from $23, and $22 respectively) following the distribution cut from $2.90/unit to $1.25/unit.
The firm expects further oil/commodity... More
LINN Energy (LINE), LinnCo (LNCO) Distribution Cut Seen as Neutral for Stocks
January 2, 2015 10:17 AM ESTLINN Energy (NASDAQ: LINE) and LinnCo (NASDAQ: LNCO) shares were volatile Friday after it announced a 57% distribution cut. It also reduced capex and reported an alliance with GSO Capital Partners. In the view of Wells Fargo... More
LINN Energy (LINE) to Trim Annual Distribution by 57%; Enters Alliance with GSO Capital; Updates on Hedging
January 2, 2015 6:51 AM EST(Updated - January 2, 2015 7:49 AM EST)
LINN Energy (NASDAQ: LINE) and LinnCo, LLC (Nasdaq: LNCO) announced that LINN's Board of Directors has approved a 2015 budget which includes a 53% reduction in oil and natural gas capital expenditures to $730 million, from approximately $1.55 billion in 2014, and a reduction of the LINN distribution and LinnCo dividend to $1.25 per unit or share, from the previous level of $2.90 per unit or share, on an annualized basis. LINN expects to fund its total 2015 oil and natural gas capital program, along with the distribution, from internally generated... More
