Energy XXI (Bermuda) Limited Given Buy Rating at KLR Group (EXXI)
Energy XXI (Bermuda) Limited (NASDAQ:EXXI)‘s stock had its “buy” rating reiterated by KLR Group in a research note issued on Friday. They currently have a $24.00 price target on the stock, up from their previous price target of $6.00. KLR Group’s price objective suggests a potential upside of 50.28% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Energy XXI (Bermuda) Limited in a research note on Friday. They now have a $30.00 price target on the stock, down previously from $36.00. Separately, analysts at Howard Weil downgraded shares of Energy XXI (Bermuda) Limited from an “outperform” rating to a “sector perform” rating in a research note on Friday. They now have a $28.00 price target on the stock, down previously from $34.00. Finally, 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 analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $29.50.
Energy XXI (NASDAQ:EXXI) traded down 1.44% during mid-day trading on Friday, hitting $15.74. 7,881,929 shares of the company’s stock traded hands. Energy XXI has a 1-year low of $15.72 and a 1-year high of $33.93. The stock’s 50-day moving average is $21.06 and its 200-day moving average is $22.37. The company has a market cap of $1.216 billion and a price-to-earnings ratio of 24.95. Energy XXI (Bermuda) Limited also was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 11,937,025 shares, a decline of 7.4% from the July 15th total of 12,890,411 shares. Currently, 13.2% of the company’s shares are sold short. Based on an average trading volume of 1,176,368 shares, the days-to-cover ratio is presently 10.1 days.
Energy XXI (Bermuda) Limited (NASDAQ:EXXI) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.32. The company had revenue of $324.13 million for the quarter, compared to the consensus estimate of $320.25 million. Analysts expect that Energy XXI will post $1.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors 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 3.01%.
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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