Mexco Energy (NYSE:MXC) Trading 3% Higher – What’s Next?

Mexco Energy Co. (NYSE:MXCGet Free Report)’s share price was up 3% during mid-day trading on Tuesday . The stock traded as high as $9.54 and last traded at $9.75. Approximately 4,947 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 22,602 shares. The stock had previously closed at $9.47.

Mexco Energy Stock Performance

The business’s 50 day moving average price is $8.52 and its 200-day moving average price is $9.63. The company has a market cap of $19.28 million, a price-to-earnings ratio of 14.96 and a beta of 0.33.

Mexco Energy Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.10 per share. This represents a yield of 127.0%. The ex-dividend date of this dividend was Monday, June 15th. Mexco Energy’s payout ratio is presently 15.87%.

Hedge Funds Weigh In On Mexco Energy

An institutional investor recently raised its stake in Mexco Energy stock. Beddow Capital Management Inc. increased its stake in shares of Mexco Energy Co. (NYSE:MXCFree Report) by 52.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,295 shares of the company’s stock after buying an additional 21,434 shares during the quarter. Beddow Capital Management Inc. owned 3.04% of Mexco Energy worth $617,000 at the end of the most recent reporting period. 5.89% of the stock is currently owned by institutional investors and hedge funds.

Mexco Energy Company Profile

(Get Free Report)

Mexco Energy Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on identifying and developing onshore unconventional and conventional reservoirs to optimize hydrocarbon recovery and maintain a balanced portfolio of production assets. Its operations encompass both drilling new wells and acquiring producing properties to support steady production growth.

Mexco’s core assets are concentrated in key Texas basins, including the Fort Worth Basin—home to Barnett Shale formations—and select positions in the Permian Basin.

Further Reading

Receive News & Ratings for Mexco Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mexco Energy and related companies with MarketBeat.com's FREE daily email newsletter.