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Needham & Company dropped their price objective on shares of Energy XXI (Bermuda) (NASDAQ:EXXI) from $42.00 to $34.00 in a research note issued on Monday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price target would indicate a potential upside of 58.58% from the stock’s previous close.

A number of other firms have also recently commented on EXXI. Analysts at Canaccord Genuity cut their price target on shares of Energy XXI (Bermuda) from $38.00 to $36.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at MLV Capital cut their price target on shares of Energy XXI (Bermuda) from $40.00 to $36.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. They noted that the move was a valuation call. Finally, analysts at Goldman Sachs 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. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $35.32.

Energy XXI (NASDAQ:EXXI) traded down 0.82% on Monday, hitting $21.265. 216,005 shares of the company’s stock traded hands. Energy XXI has a one year low of $20.40 and a one year high of $33.93. The stock’s 50-day moving average is $24.45 and its 200-day moving average is $27.3. The company has a market cap of $1.521 billion and a P/E ratio of 11.68. Energy XXI (Bermuda) also was the recipient of some unusual options trading activity on Friday. Stock investors purchased 11,266 put options on the stock. This represents an increase of 775% compared to the typical daily volume of 1,288 put 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 $1.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, March 14th. Stockholders 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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