LinnCo, LLC. (NASDAQ:LNCO)’s stock trading up after receiving an upgraded rating by analyst


Dallas, Texas 07/10/2013 (Financialstrend) – Shares of LinnCo, LLC. (NASDAQ:LNCO) were up after the company got an upgraded rating by an analyst of Bank of America. Earlier this week Bronstein, Gewirtz & Grossman, LLC announced that it is investigating potential claims on behalf of the purchasers of the securities of Linn Co, LLC. (NASDAQ: LNCO). The investigation focuses on whether the company and its executives violated federal securities laws. The company also recently announced a monthly dividend, through which shareholders will be paid a dividend of $0.24 per share on Wednesday, July 10th.

The Securities and Exchange Commission (SEC) also carried a private inquiry regarding LINN Energy and LinnCo and mainly regarding the company’s acquisition of Berry Petroleum Company. In mid-February, LinnCo, LLC. (NASDAQ:LNCO) signed a merger agreement with Berry Petroleum Company through which LinnCo, LLC. (NASDAQ:LNCO) agreed to acquire all of Berry Petroleum’s outstanding shares for a total consideration of $4.3 billion.

The shares of  shares of LinnCo, LLC. (NASDAQ:LNCO) are currently trading at $ 29.58, shares increased by 0.44%. LinnCo, LLC. (NASDAQ: LNCO) has a 52-week high of $44.20 and a 52-week low of $23.03 per share.

LinnCo, LLC.’s (NASDAQ:LNCO) trading volume was 1.07 million shares on this Tuesday, close to its average trading volume of 1.10 million, with outstanding shares of 34.79 million and a market cap of $1.02 billion.

LinnCo, LLC. (NASDAQ: LNCO) operates in the Energy sector, which includes companies such as Petro China Company Limited (PTR) and Total FinaElf, S.A. (TOT). LinnCo was established mainly to enable LINN Energy raise equity capital to perform its acquisition and growth plans.