Mexco Energy (NYSE:MXC) Stock Price Up 6.1% – What’s Next?

Shares of Mexco Energy Co. (NYSE:MXC) rose 6.1% during mid-day trading on Thursday . The company traded as high as $8.49 and last traded at $8.48. Approximately 22,246 shares changed hands 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.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on Mexco Energy in a research note on Thursday, May 22nd. They issued a “hold” rating on the stock.

Mexco Energy Trading Up 6.1%

The stock has a market capitalization of $17.35 million, a PE ratio of 13.46 and a beta of 0.33. The stock has a 50 day moving average price of $6.92 and a 200-day moving average price of $9.54.

Mexco Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.72%. Mexco Energy’s dividend payout ratio (DPR) is currently 15.87%.

Hedge Funds Weigh In On Mexco Energy

An institutional investor recently bought a new position in Mexco Energy stock. Beddow Capital Management Inc. bought a new stake in shares of Mexco Energy Co. (NYSE:MXC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,033 shares of the company’s stock, valued at approximately $113,000. Beddow Capital Management Inc. owned approximately 0.49% of Mexco Energy as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 5.89% of the company’s stock.

Mexco Energy Company Profile

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.