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Why Linn Energy (LINE) is Up Huge Today

Andrew Steele

Linn Energy, LLC (LINE) is coming out the gate Gang Busters style this Monday morning as stocks are up a staggering 91.00% as of 10:16 AM ET. Shares of LINE soared on this past Friday in response to energy prices rising.

After seeing oil prices fall below $27 per barrel earlier this year, there has been a recent comeback, with oil going for $36.33 per barrel as of this past weekend, per an article from Seeking Alpha.

 

Over the past four quarters, LINE has outperformed our earnings estimate every time, seeing a high surprise figure of 3,200% in the period ending in December 2014 and a low of 108.33% in the period ending in September 2015.

If the price of oil does continue to increase, whether marginally or rapidly, expect Linn Energy to have continued success, both with earnings and stock prices increasing. Currently, Lin Energy has a Zacks Rank #3 (Hold).

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