Linn Energy Stock To Go Ex-dividend Tomorrow (LINE)

NEW YORK ( TheStreet) -- The ex-dividend date for Linn Energy (Nasdaq: LINE) is tomorrow, August 3, 2012. Owners of shares as of market close today will be eligible for a dividend of 72.5 cents per share. At a price of $39.89 as of 9:30 a.m. ET, the dividend yield is 7.3%.

The average volume for Linn Energy has been 950,000 shares per day over the past 30 days. Linn Energy has a market cap of $7.9 billion and is part of the basic materials sector and energy industry. Shares are up 4.5% year to date as of the close of trading on Wednesday.

Linn Energy, LLC, an independent oil and natural gas company, engages in the acquisition and development of oil and gas properties. The company's properties are primarily located in the Mid-Continent, the Permian Basin, Michigan, California, and the Williston Basin in the United States. The company has a P/E ratio of 8.1, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Linn Energy as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Linn Energy Ratings Report.

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