Mexco Energy Co. (NYSE:MXC – Get Free Report)’s share price rose 6.1% during trading on Thursday . The company traded as high as $8.49 and last traded at $8.48. Approximately 22,246 shares were traded during mid-day trading, an increase of 102% from the average daily volume of 11,037 shares. The stock had previously closed at $7.99.
Wall Street Analyst Weigh In
Separately, Wall Street Zen initiated coverage on Mexco Energy in a report on Thursday, May 22nd. They issued a “hold” rating for the company.
Mexco Energy Stock Performance
Mexco Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Monday, June 2nd. Mexco Energy’s payout ratio is 15.87%.
Institutional Trading of Mexco Energy
A hedge fund recently bought a new stake in Mexco Energy stock. Beddow Capital Management Inc. purchased a new position in Mexco Energy Co. (NYSE:MXC – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,033 shares of the company’s stock, valued at approximately $113,000. Beddow Capital Management Inc. owned about 0.49% of Mexco Energy at the end of the most recent reporting period. 5.89% of the stock is currently owned by institutional investors and hedge funds.
About Mexco Energy
Mexco Energy Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of natural gas, crude oil, condensate, and natural gas liquids in the United States. It owns partial interests in approximately 6,400 gross producing wells located in the states of Texas, New Mexico, Oklahoma, Louisiana, Alabama, Mississippi, Arkansas, Wyoming, Kansas, Colorado, Montana, Virginia, North Dakota, and Ohio.
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