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 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 lowered Energy XXI Gulf Coast from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 5th.
Shares of Energy XXI Gulf Coast (NASDAQ EXXI) opened at $5.50 on Tuesday. Energy XXI Gulf Coast has a 52-week low of $4.74 and a 52-week high of $35.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.
Energy XXI Gulf Coast (NASDAQ:EXXI) last announced its earnings results on Tuesday, November 14th. The oil and gas producer reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.13). The firm had revenue of $117.00 million during the quarter, compared to analyst estimates of $119.45 million. analysts predict that Energy XXI Gulf Coast will post -3.09 earnings per share for the current year.
In other news, CEO Douglas E. Brooks acquired 25,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $4.94 per share, with a total value of $123,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at $49,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in Energy XXI Gulf Coast by 169.8% in the fourth quarter. Millennium Management LLC now owns 419,525 shares of the oil and gas producer’s stock valued at $2,408,000 after buying an additional 264,049 shares during the last quarter. Two Sigma Investments LP increased its holdings in Energy XXI Gulf Coast by 1,153.8% in the fourth quarter. Two Sigma Investments LP now owns 362,749 shares of the oil and gas producer’s stock valued at $2,082,000 after buying an additional 333,818 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Energy XXI Gulf Coast in the fourth quarter valued at about $1,415,000. Deutsche Bank AG increased its holdings in Energy XXI Gulf Coast by 150.5% in the fourth quarter. Deutsche Bank AG now owns 68,630 shares of the oil and gas producer’s stock valued at $392,000 after buying an additional 41,230 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its holdings in Energy XXI Gulf Coast by 80.0% in the fourth quarter. Wolverine Asset Management LLC now owns 567,527 shares of the oil and gas producer’s stock valued at $3,257,000 after buying an additional 252,167 shares during the last quarter. 83.62% of the stock is owned by hedge funds and other institutional investors.
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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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