Mexco Energy (NYSE:MXC) Shares Down 2.7% – Time to Sell?

Mexco Energy Co. (NYSE:MXC) fell 2.7% during mid-day trading 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 Price Performance

The firm’s fifty day simple moving average is $9.52 and its 200 day simple moving average is $8.99. The company has a market capitalization of $22.10 million, a price-to-earnings ratio of 17.14 and a beta of 0.31.

Institutional Trading of Mexco Energy

A hedge fund recently raised its stake in Mexco Energy stock. Beddow Capital Management Inc. increased its holdings in Mexco Energy Co. (NYSE:MXC) by 100.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,861 shares of the company’s stock after acquiring an additional 20,517 shares during the period. Beddow Capital Management Inc. owned about 2.00% of Mexco Energy worth $374,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.89% of the company’s stock.

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.