Barclays (NYSE:BCS) Keeps Linn Energy (Nasdaq:LINE) at "Overweight"

Barclays (NYSE:BCS) kept its rating on Linn Energy (Nasdaq:LINE) at "Overweight," noting the company continues to move along nicely.

The price target for Linn was increased from $30 to $33 a share.

"LINE continues to make progress in growing production and strengthening
distribution coverage ratios through a mix of acquisitions and drilling. Positive results from the Granite Wash could offer some upside to management's guidance later this year," said Barclays.

"We are revising our FY10 EBITDA/DCF per unit estimates to $4.80/$3.10 from $4.55/$2.95 and our FY11 EBITDA/DCF per unit estimates to $5.00/$2.90 from $4.60/$2.55."

Linn Energy closed Friday at $30.69, gaining $0.55, or 1.82 percent. Trading volume was below its 3-month average of 1,372,460.

Barclays (NYSE:BCS) Maintains "Overweight" on Hess (NYSE:HES)

Barclays (NYSE:BCS) reiterated its "Overweight" rating on Hess Corp.
(NYSE:HES), while increasing its price target on the company from $74 to $75 a share.

"Although HES may lack visible catalysts in the next 6 months, we are buyers of the shares here. We think that the current risk/reward ratio is compelling, following the shares' recent poor performance...We raise our 2010 and 2011 EPS estimates for HES to $4.60 and $6.35, from $4.55 and $6.00, respectively," said a Barclays analyst.

The energy company closed Friday at $53.59, dropping $0.26, or 0.48 percent. Volume traded was almost the exact of the three-month average.