Zacks Investment Research lowered shares of Energy XXI Gulf Coast (NASDAQ:EXXI) from a buy rating to a hold rating in a research report report published 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 downgraded Energy XXI Gulf Coast from a sell rating to a strong sell rating in a research note on Tuesday, December 5th.
In other Energy XXI Gulf Coast news, CEO Douglas E. Brooks purchased 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $4.94 per share, for a total transaction 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in shares of Energy XXI Gulf Coast in the second quarter valued at approximately $138,000. Wells Fargo & Company MN boosted its stake in shares of Energy XXI Gulf Coast by 46.6% in the third 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 in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Energy XXI Gulf Coast in the third quarter valued at approximately $109,000. Goldman Sachs Group Inc. purchased a new stake in shares of Energy XXI Gulf Coast in the second quarter valued at approximately $221,000. Finally, Menta Capital LLC purchased a new stake in shares of Energy XXI Gulf Coast in the second quarter valued at approximately $232,000. Hedge funds and other institutional investors own 80.56% 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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