Mexco Energy (NYSE:MXC) Stock Price Up 3.1% – Time to Buy?

Mexco Energy Co. (NYSE:MXC)’s stock price was up 3.1% on Monday . The stock traded as high as $9.22 and last traded at $9.0650. Approximately 8,939 shares were traded during trading, a decline of 62% from the average daily volume of 23,803 shares. The stock had previously closed at $8.79.

Mexco Energy Stock Performance

The company’s 50 day moving average price is $8.47 and its 200-day moving average price is $9.77. The company has a market cap of $18.55 million, a price-to-earnings ratio of 14.39 and a beta of 0.33.

Mexco Energy Dividend Announcement

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

Hedge Funds Weigh In On Mexco Energy

A hedge fund recently raised its position in Mexco Energy stock. Beddow Capital Management Inc. lifted its stake in Mexco Energy Co. (NYSE:MXC) by 52.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,295 shares of the company’s stock after purchasing an additional 21,434 shares during the quarter. Beddow Capital Management Inc. owned 3.04% of Mexco Energy worth $617,000 as of its most recent filing with the Securities & Exchange Commission. 5.89% of the stock is currently owned by institutional investors and hedge funds.

Mexco Energy Company Profile

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.