Energy XXI Gulf Coast (NASDAQ:EXXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $6.50 price objective on the oil and gas producer’s stock. Zacks Investment Research‘s price target would suggest a potential downside of 2.84% from the stock’s current price.
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.
Shares of Energy XXI Gulf Coast (NASDAQ:EXXI) traded up $0.23 during trading hours on Wednesday, reaching $6.69. 419,800 shares of the company’s stock traded hands, compared to its average volume of 708,300. 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 52-week low of $4.74 and a 52-week high of $35.96.
In other news, CEO Douglas E. Brooks bought 25,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were bought at an average cost of $4.94 per share, with a total value of $123,500.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at $49,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of Energy XXI Gulf Coast in the 2nd quarter valued at about $138,000. SG Americas Securities LLC bought a new stake in shares of Energy XXI Gulf Coast in the 3rd quarter valued at about $109,000. Goldman Sachs Group Inc. bought a new stake in shares of Energy XXI Gulf Coast in the 2nd quarter valued at about $221,000. Menta Capital LLC bought a new stake in shares of Energy XXI Gulf Coast in the 2nd quarter valued at about $232,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Energy XXI Gulf Coast in the 2nd quarter valued at about $235,000. 80.56% of the stock is currently owned by 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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