Share on StockTwits

Research analysts at Canaccord Genuity cut their price target on shares of Energy XXI (Bermuda) Limited (NASDAQ:EXXI) from $36.00 to $30.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective indicates a potential upside of 87.85% from the company’s current price.

Shares of Energy XXI (NASDAQ:EXXI) traded down 0.19% during mid-day trading on Friday, hitting $15.94. 2,137,418 shares of the company’s stock traded hands. Energy XXI has a 52-week low of $15.72 and a 52-week 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 $1.231 billion and a P/E ratio of 24.95. Energy XXI (Bermuda) Limited also saw a large 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. Currently, 13.2% of the company’s stock are sold short. Based on an average daily volume of 1,176,368 shares, the short-interest ratio is presently 10.1 days.

Energy XXI (Bermuda) Limited (NASDAQ:EXXI) last announced its earnings results on Wednesday, August 13th. The company reported ($0.06) earnings per share for the quarter, missing the analysts’ 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. On average, analysts predict that Energy XXI will post $1.62 earnings per share 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%.

EXXI has been the subject of a number of other recent research reports. 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. 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.11.

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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.