Mexco Energy (NYSE:MXC) Trading Down 2.7% – Time to Sell?
by Kim Johansen · The Markets DailyMexco Energy Co. (NYSE:MXC – Get Free Report) shares traded down 2.7% on Thursday . The stock traded as low as $10.05 and last traded at $10.80. 47,007 shares changed hands during trading, an increase of 264% from the average session volume of 12,921 shares. The stock had previously closed at $11.10.
Mexco Energy Stock Down 0.9%
The firm has a market capitalization of $21.89 million, a price-to-earnings ratio of 16.98 and a beta of 0.31. The firm has a 50 day moving average of $9.55 and a two-hundred day moving average of $8.98.
Institutional Investors Weigh In On Mexco Energy
A hedge fund recently raised its stake in Mexco Energy stock. Beddow Capital Management Inc. lifted its position in shares of Mexco Energy Co. (NYSE:MXC – Free Report) by 68.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,344 shares of the company’s stock after purchasing an additional 8,300 shares during the period. Beddow Capital Management Inc. owned 0.99% of Mexco Energy worth $180,000 at the end of the most recent quarter. 5.89% of the stock is owned by institutional investors and hedge funds.
About Mexco Energy
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.