Energy XXI Gulf Coast (EXXI) Downgraded by Zacks Investment Research

Energy XXI Gulf Coast (NASDAQ:EXXI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Energy XXI Gulf Coast, Inc. is an oil and natural gas development and production company. Its assets are primarily located in the U.S. Gulf of Mexico waters offshore Louisiana and Texas. Energy XXI Gulf Coast, Inc. is based in Houston, United States. “

Separately, ValuEngine cut shares of Energy XXI Gulf Coast from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 5th.

Energy XXI Gulf Coast (NASDAQ:EXXI) traded down $0.21 during mid-day trading on Tuesday, reaching $5.58. 294,085 shares of the company’s stock were exchanged, compared to its average volume of 618,554. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. Energy XXI Gulf Coast has a fifty-two week low of $4.74 and a fifty-two week high of $35.96.

Energy XXI Gulf Coast (NASDAQ:EXXI) last posted its quarterly earnings data on Tuesday, November 14th. The oil and gas producer reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.13). The business had revenue of $117.00 million for the quarter, compared to analyst estimates of $119.45 million. analysts anticipate that Energy XXI Gulf Coast will post -3.11 EPS for the current fiscal year.

In other news, CEO Douglas E. Brooks acquired 25,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $4.94 per share, for a total transaction of $123,500.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $49,400. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. bought a new position in shares of Energy XXI Gulf Coast in the second quarter worth about $18,365,000. PenderFund Capital Management Ltd. bought a new position in shares of Energy XXI Gulf Coast in the fourth quarter worth about $6,835,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Energy XXI Gulf Coast by 33.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,696,670 shares of the oil and gas producer’s stock worth $27,884,000 after purchasing an additional 680,373 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Energy XXI Gulf Coast in the fourth quarter worth about $2,878,000. Finally, State Street Corp bought a new position in shares of Energy XXI Gulf Coast in the second quarter worth about $9,294,000. Institutional investors and hedge funds own 83.62% of the company’s stock.

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About Energy XXI Gulf Coast

Energy XXI Gulf Coast, Inc (EGC) is an independent oil and natural gas development and production company which was focused on development drilling on the Company’s core properties. The Company’s properties are located in the United States Gulf of Mexico waters and the Gulf Coast onshore.

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