Vertex One Asset Management Inc. trimmed its holdings in shares of Energy XXI Gulf Coast Inc (NASDAQ:EXXI) by 89.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 45,705 shares of the oil and gas producer’s stock after selling 389,048 shares during the period. Vertex One Asset Management Inc.’s holdings in Energy XXI Gulf Coast were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of EXXI. Vanguard Group Inc. purchased a new position in shares of Energy XXI Gulf Coast during the 2nd quarter worth approximately $18,365,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Energy XXI Gulf Coast in the 4th quarter worth approximately $6,835,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Energy XXI Gulf Coast by 33.7% in the 3rd 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 acquiring an additional 680,373 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Energy XXI Gulf Coast in the 4th quarter worth approximately $2,878,000. Finally, State Street Corp acquired a new stake in shares of Energy XXI Gulf Coast in the 2nd quarter worth approximately $9,294,000. 82.65% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Energy XXI Gulf Coast from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. ValuEngine cut Energy XXI Gulf Coast from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th.
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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. The Company operates nine oilfields on the Gulf of Mexico Shelf.
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