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Energy XXI (Bermuda) Limited (NASDAQ:EXXI) was downgraded by equities researchers at MLV & Co
from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Shares of Energy XXI (NASDAQ:EXXI) opened at 16.21 on Tuesday. Energy XXI has a 52-week low of $15.37 and a 52-week high of $33.93. The stock’s 50-day moving average is $18.99 and its 200-day moving average is $21.8. The company has a market cap of $1.522 billion and a price-to-earnings ratio of 25.78.

Energy XXI (Bermuda) Limited (NASDAQ:EXXI) last released its earnings data 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 $1.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, August 27th.

EXXI has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC downgraded shares of Energy XXI (Bermuda) Limited from a “buy” rating to a “hold” rating in a research note on Tuesday. Separately, analysts at Zacks downgraded shares of Energy XXI (Bermuda) Limited from a “neutral” rating to an “underperform” rating in a research note on Friday. They now have a $15.50 price target on the stock. Finally, analysts at KLR Group reiterated a “buy” rating on shares of Energy XXI (Bermuda) Limited in a research note on Friday, August 15th. They now have a $24.00 price target on the stock, up previously from $6.00. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Energy XXI (Bermuda) Limited presently has an average rating of “Hold” and a consensus target price of $26.72.

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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