Energy XXI (Bermuda) Limited (EXXI) Posts Quarterly Earnings, Misses Estimates By $0.32 EPS
Energy XXI (Bermuda) Limited (NASDAQ:EXXI) posted its quarterly earnings results on Wednesday. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.26 by $0.32, American Banking & Market News reports. The company had revenue of $324.13 million for the quarter, compared to the consensus estimate of $320.25 million.
A number of analysts have recently weighed in on EXXI shares. 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. Analysts at Raymond James upgraded shares of Energy XXI (Bermuda) Limited from an “outperform” rating to a “strong-buy” rating in a research note on Monday, May 19th. They now have a $29.00 price target on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $31.33.
Shares of Energy XXI (NASDAQ:EXXI) traded down 0.05% during mid-day trading on Wednesday, hitting $19.65. 1,538,354 shares of the company’s stock traded hands. Energy XXI has a 52-week low of $18.71 and a 52-week high of $33.93. The stock has a 50-day moving average of $21.37 and a 200-day moving average of $22.44. The company has a market cap of $1.382 billion and a price-to-earnings ratio of 13.18. Energy XXI (Bermuda) Limited also was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 11,937,025 shares, a drop of 7.4% from the July 15th total of 12,890,411 shares. Based on an average daily volume of 1,176,368 shares, the short-interest ratio is presently 10.1 days. Currently, 13.2% of the shares of the stock are sold short.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.44%.
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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