NEW YORK (TheStreet) -- Shares of LINN Energy LLC (LINE) are slipping, down 7.75% to $16.84 in late morning trading Monday, after the Organization of Petroleum Exporting Countries decided last week to maintain its production ceiling and keep its target at 30 million barrels per day instead of cutting production to raise prices, Bloomberg reports.
U.S. is pumping crude oil at the fastest rate in three decades while global demand growth is slowing, pushing oil into a bear market, Bloomberg added.
Brent crude is up 1.51% to $71.21 per barrel. In June, prices were as high as $115 per barrel.
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Houston, TX-based LINN Energy is an independent oil and natural gas company engaged in acquiring, developing and maximizing cash flow from a growing portfolio of long-life oil and natural gas assets.
Separately, TheStreet Ratings team rates LINN ENERGY LLC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LINN ENERGY LLC (LINE) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself."