NEW YORK (

TheStreet

) -- Shares of

Energy XXI

(Nasdaq:

EXXI

) were gapping up Tuesday morning with an open price 10.3% higher than Monday's closing price. The stock closed at $22.04 Monday and opened today's trading at $24.32.

The average volume for Energy XXI has been 1.1 million shares per day over the past 30 days. Energy XXI has a market cap of $1.9 billion and is part of the

basic materials

sector and

energy

industry. Shares are down 15.1% year to date as of the close of trading on Monday.

Energy XXI (Bermuda) Limited, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of oil and natural gas properties onshore in Louisiana and Texas and offshore in the Gulf of Mexico. The company has a P/E ratio of 59.9, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Energy XXI as a

hold

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that the company has not been very careful in the management of its balance sheet. You can view the full

Energy XXI Ratings Report

.

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