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Shares of Energy XXI (Bermuda) Limited (NASDAQ:EXXI) were the target of a large decline in short interest in June. As of June 13th, there was short interest totalling 13,696,311 shares, a decline of 23.7% from the May 30th total of 17,961,340 shares, Analyst Ratings Net reports. Based on an average daily volume of 2,228,787 shares, the days-to-cover ratio is presently 6.1 days. Approximately 20.3% of the company’s stock are sold short.

Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Energy XXI (Bermuda) Limited from an “underperform” rating to a “neutral” rating in a research note on Thursday. They now have a $24.20 price target on the stock. Separately, analysts at BMO Capital Markets initiated coverage on shares of Energy XXI (Bermuda) Limited in a research note on Tuesday, May 27th. They set an “outperform” rating and a $28.00 price target on the stock. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $32.85.

Shares of Energy XXI (NASDAQ:EXXI) opened at 23.46 on Monday. Energy XXI has a 52-week low of $19.94 and a 52-week high of $33.93. The stock has a 50-day moving average of $22.13 and a 200-day moving average of $23.39. The company has a market cap of $1.650 billion and a P/E ratio of 15.59.

Energy XXI (Bermuda) Limited (NASDAQ:EXXI) last announced its earnings results on Wednesday, April 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.11. The company had revenue of $285.18 million for the quarter, compared to the consensus estimate of $285.12 million. On average, analysts predict that Energy XXI will post $1.13 earnings per share for the current fiscal year.

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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