Zacks Investment Research Upgrades Energy XXI Gulf Coast (EXXI) to “Buy”
Zacks Investment Research upgraded shares of Energy XXI Gulf Coast (NASDAQ:EXXI) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The brokerage currently has $7.00 price objective on the oil and gas producer’s stock.
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 note on Tuesday, December 5th.
In other news, CEO Douglas E. Brooks bought 25,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $4.94 per share, with a total value of $123,500.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at $49,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC boosted its stake in 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 buying an additional 680,373 shares in the last quarter. Vanguard Group Inc. purchased a new stake in Energy XXI Gulf Coast in the second quarter worth approximately $18,365,000. Dupont Capital Management Corp lifted its position in Energy XXI Gulf Coast by 3.4% in the third quarter. Dupont Capital Management Corp now owns 839,496 shares of the oil and gas producer’s stock valued at $8,680,000 after purchasing an additional 27,900 shares during the last quarter. State Street Corp bought a new stake in Energy XXI Gulf Coast in the second quarter valued at approximately $9,294,000. Finally, Northern Trust Corp bought a new stake in Energy XXI Gulf Coast in the second quarter valued at approximately $6,375,000. 80.56% of the stock is owned by institutional investors and hedge funds.
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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