Seeking Alpha

Wells Fargo's defense of Linn Energy (LINE -6.5%) and LinnCo (LNCO -6.6%) following Barron's...

Wells Fargo's defense of Linn Energy (LINE -6.5%) and LinnCo (LNCO -6.6%) following Barron's negative article has lifted shares a bit from earlier lows. Wells considers today's selloff a buying opportunity, as the article merely "brings up old points of contention"; the firm continues to believe LINE’s distribution is secure and poised to grow at a mid-single-digit annual pace over the next five years.
Comments (23)
  • Linn's CEO will be on Cramer - CNBC tonight to defend company.
    6 May 2013, 02:41 PM Reply Like
  • Thanks for that news, that should add some extra pop to the stock tomorrow, and maybe legs for it to run further into the close.
    6 May 2013, 02:42 PM Reply Like
  • Was the article perfectly timed to be on the x-div date?
    6 May 2013, 02:47 PM Reply Like
  • coincidence HUH? I was thinking the same. Personally i have not agreed with Barron's on numerous occasions in the past year.
    6 May 2013, 02:54 PM Reply Like
  • I think LINN"s decision to pay a monthly div as of July will be an added lift to the stock as well.
    6 May 2013, 02:55 PM Reply Like
  • Only people this benefits are the insiders at Barrons and their friends who short sold including the same folks that purchased PUTS. Same is true anytime a rating like company makes negative comments, insiders short sell.
    6 May 2013, 02:57 PM Reply Like
  • The announced dividend will be increased once the BRY merger closes.

     

    At today's prices, LNCO will be paying close to a double digit yield.

     

    BRY is an even better play as it is trading below the merger price of 1.25 LNCO shares.

     

    As between Barron's and Wells, I have more faith in the latter.
    6 May 2013, 03:03 PM Reply Like
  • after BRY 6.2% increase div projected..
    cancelled Barrons. !
    7 May 2013, 09:21 AM Reply Like
  • We need "short" police or something.

     

    On second thought, let's just sharpen our horns.
    6 May 2013, 03:03 PM Reply Like
  • I'd like to see the SEC in on this case. Too much of a coincidence that this article was perfectly timed with ex-dividend. All rise!!!!!
    6 May 2013, 03:36 PM Reply Like
  • Agreed, as stock closes on highs for the day as the criminals covered their shorts in the final 5 min .

     

    Long LINE
    6 May 2013, 04:01 PM Reply Like
  • Barron's seems ignorant about what is behind the casing (long term reserves) Linn gets from the Berry Petroleum acquisition.
    6 May 2013, 04:07 PM Reply Like
  • Another Cramer fave taking a big dump. Par for the course.
    6 May 2013, 04:11 PM Reply Like
  • Barron's and their employees needs to disclose their positions- under oath.
    6 May 2013, 04:45 PM Reply Like
  • I bought more shares of LNCO today with a yield of 7.4%. I am banking on WF being right and Barrons wrong! I couldn't resist the yield with close to 0% being paid on money market accounts.
    6 May 2013, 05:09 PM Reply Like
  • No thanks, Line looks okay but don't want to be on the battleground no matter who wins. Collateral damage and all that. Just as soon take my money and leave for quieter environs.
    6 May 2013, 05:30 PM Reply Like
  • If shananagens are going on at Barron's, somebody should get arrested. Just absurd.

     

    Yeah right, coincidence that this article pops up on ex dividend day...right. 'shrugs shoulders'.

     

    This is a good company. This was a buying opportunity, maybe the last time to get in under 40.
    6 May 2013, 07:42 PM Reply Like
  • if that's the case, hopefully someone on SA/elsewhere will publish a retort to that article. Seems pretty fishy to me with such poor cash flow metrics.
    6 May 2013, 08:33 PM Reply Like
  • All the accusations of something improper going on at Barron's seem a bit hypocritical, since if they wrote a positive piece about a stock you own and it was up 9%, everyone would be dancing at their desks all day. Don't worry about their motives, worry about the quality of their analysis. Nothing they said was new (or wrong), so take the opportunity to buy more if you like the name, or short it if you dont. Barron's re-publishing LINE's quarter with a negative headline shouldnt really change anyone's opinion on the company.
    6 May 2013, 09:39 PM Reply Like
  • Well said.
    8 May 2013, 05:19 PM Reply Like
  • Baron's also panned Facebook for the second time.($15,now $25)
    Could Be they are taking contrarian positions against popular stocks in order to gain publicity! I'm betting that both Line and FB will rally from here. Mike
    6 May 2013, 11:16 PM Reply Like
  • Please remind me, what was FB IPO price again?
    7 May 2013, 04:32 AM Reply Like
  • Looks like the shorts will have a 60 day window before the monthly dividend kicks in. Short this !!!!!!!!
    7 May 2013, 08:03 AM Reply Like
DJIA (DIA) S&P 500 (SPY)