NEW YORK (TheStreet) -- Shares of Energy XXI Ltd. (EXXI) are down by 8.17% to $3.37 in mid-morning trading on Wednesday, as some oil and energy related stocks retreat today as a result of the decline in oil prices.
Crude for February deliver is falling by 2.68% to $55.59 per barrel this morning.
Yesterday oil prices rallied thanks to positive U.S. economic data and comments made from OPEC members saying they are expecting global oil prices to rebound to a range between $70 and $80 per barrel by the end of next year.
Exclusive Report: Jim Cramer's Best Stocks For 2015
Since the summer oil prices have fallen almost 50% due to a global oversupply. Recently OPEC announced it has no plans to cut its production rate despite the supply gut and a softening of demand.
Separately, TheStreet Ratings team rates ENERGY XXI LTD as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ENERGY XXI LTD (EXXI) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk and disappointing return on equity."