NEW YORK (TheStreet) -- Shares of Linn Energy (LINE) were falling 8.9% to $12.14 Friday, hitting a 52-week low of $12.06, as oil prices continued to fall and the International Energy Agency lowered its consumption forecast for 2015.
WTI crude oil for January delivery was falling 3.6% to $57.77 a barrel Friday afternoon, while Brent crude oil for January delivery was falling 3% to $61.77 a barrel.
The IEA announced that it expects global oil to demand to increase by 900,000 a day in 2015, down from its previous estimate of a 1.03 million barrel a day increase, to 93.3 million barrels a day, according to USA Today. The expected demand is lower due to economic slowdown in Russia.
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A slowing Chinese economy and the strength of the U.S. dollar are also helping drive down the price of oil.
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."