Energy XXI expectations lowered near-term at Cowen Cowen maintains its Buy rating on Energy XXl (EXXI) following the announcement of a joint venture with Apache (APA) which will add additional potential and inventory to its portfolio. The firm lowered its expectations in the near-term due to production issues. Price target is $35.
Apache calls active on renewed takeover chatter Apache January weekly 66 and 67 calls are active on total call volume of 2,500 contracts (200 puts) on renewed takeover chatter. January weekly call option implied volatility is at 39, February is at 38, April is at 33; compared to its 26-week average of 30 according to Track Data. Active call volume suggests traders taking positions for price movement.