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Stock analysts at MLV Capital dropped their price target on shares of Energy XXI (Bermuda) (NASDAQ:EXXI) from $40.00 to $36.00 in a report issued on Friday, AR Network reports. The firm currently has a “buy” rating on the stock. MLV Capital’s target price would indicate a potential upside of 67.91% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on EXXI. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Energy XXI (Bermuda) in a research note to investors on Thursday, January 30th. They set a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of Energy XXI (Bermuda) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, January 22nd. They now have a $24.50 price target on the stock. Finally, analysts at Guggenheim downgraded shares of Energy XXI (Bermuda) from a “buy” rating to a “neutral” rating in a research note to investors on Monday, January 6th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Energy XXI (Bermuda) presently has a consensus rating of “Buy” and an average target price of $35.39.

Energy XXI (NASDAQ:EXXI) traded down 7.19% during mid-day trading on Friday, hitting $21.44. The stock had a trading volume of 6,623,889 shares. Energy XXI has a one year low of $21.49 and a one year high of $33.93. The stock’s 50-day moving average is $24.60 and its 200-day moving average is $27.34. The company has a market cap of $1.625 billion and a price-to-earnings ratio of 10.76. Energy XXI (Bermuda) also was the target of some unusual options trading activity on Thursday. Stock investors bought 7,815 call options on the stock. This is an increase of approximately 177% compared to the average daily volume of 2,826 call options.

Energy XXI (Bermuda) (NASDAQ:EXXI) last released its earnings data on Thursday, February 6th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.43 by $0.33. The company had revenue of $296.82 million for the quarter, compared to the consensus estimate of $310.44 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. On average, analysts predict that Energy XXI will post $1.87 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of 0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, February 26th.

Energy XXI (NASDAQ:EXXI) Limited (Energy XXI) is an independent oil and natural gas exploration and production company with operations focused in the United States Gulf Coast and the Gulf of Mexico.

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