Energy XXI (Bermuda) Limited PT Lowered to $30.00 (EXXI)
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.
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