LinnCo LLC Target of Unusually Large Options Trading (LNCO)
Shares of LinnCo LLC (NASDAQ:LNCO) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 29,096 call options on the stock, Analyst Ratings.Net reports. This is an increase of approximately 670% compared to the average daily volume of 3,779 call options.
A number of research firms have recently commented on LNCO. Analysts at JPMorgan Chase & Co. upgraded shares of LinnCo LLC from a “neutral” rating to an “overweight” rating in a research note to investors on Monday. They now have a $36.00 price target on the stock, up previously from $35.00. Separately, analysts at Raymond James upgraded shares of LinnCo LLC from an “outperform” rating to a “strong-buy” rating in a research note to investors on Thursday, December 19th. They now have a $37.00 price target on the stock. Finally, analysts at Raymond James cut their price target on shares of LinnCo LLC from $40.00 to $37.00 in a research note to investors on Thursday, November 7th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. LinnCo LLC presently has an average rating of “Hold” and a consensus price target of $35.21.
LinnCo LLC (NASDAQ:LNCO) traded down 1.28% during mid-day trading on Thursday, hitting $31.71. 458,564 shares of the company’s stock traded hands. LinnCo LLC has a 52-week low of $23.03 and a 52-week high of $44.20. The stock’s 50-day moving average is $30.47 and its 200-day moving average is $30.12. The company has a market cap of $1.103 billion and a price-to-earnings ratio of 24.30.
The company also recently announced a monthly dividend, which is scheduled for Friday, January 17th. Shareholders of record on Monday, January 13th will be paid a dividend of 0.2416 per share. This represents a $2.90 annualized dividend and a dividend yield of 9.03%. The ex-dividend date is Thursday, January 9th.
Linn Co, LLC (NASDAQ:LNCO) sole purpose is to own LINN Energy, LLC (LINN) units.
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