Zacks Investment Research downgraded shares of Energy XXI Gulf Coast (NASDAQ:EXXI) from a buy rating to a hold rating in a report issued on Monday morning.
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 Energy XXI Gulf Coast from a sell rating to a strong sell rating in a report on Tuesday, December 5th.
Energy XXI Gulf Coast (NASDAQ EXXI) traded up $1.05 during mid-day trading on Monday, reaching $7.50. The company had a trading volume of 1,844,285 shares, compared to its average volume of 669,632. Energy XXI Gulf Coast has a 12-month low of $4.74 and a 12-month high of $35.96. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.
In other Energy XXI Gulf Coast news, CEO Douglas E. Brooks purchased 25,000 shares of the company’s 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 acquisition, 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 at this link. Company insiders own 0.08% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC increased its holdings in Energy XXI Gulf Coast by 33.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,696,670 shares of the oil and gas producer’s stock valued at $27,884,000 after purchasing an additional 680,373 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Energy XXI Gulf Coast by 46.6% in the 3rd quarter. Wells Fargo & Company MN now owns 32,529 shares of the oil and gas producer’s stock valued at $337,000 after buying an additional 10,335 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Energy XXI Gulf Coast in the 3rd quarter valued at $1,167,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Energy XXI Gulf Coast in the 3rd quarter valued at $868,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Energy XXI Gulf Coast in the 3rd quarter valued at $109,000. 80.56% 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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