Mexco Energy (NYSE:MXC) Trading Up 3.1% – Here’s What Happened

Shares of Mexco Energy Co. (NYSE:MXC) shot up 3.1% during trading on Monday . The company traded as high as $9.22 and last traded at $9.0650. 8,939 shares changed hands during trading, a decline of 62% from the average session volume of 23,803 shares. The stock had previously closed at $8.79.

Mexco Energy Price Performance

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

Mexco Energy Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a 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 bought a new stake in Mexco Energy stock. Corient Private Wealth LLC bought a new stake in shares of Mexco Energy Co. (NYSE:MXC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,600 shares of the company’s stock, valued at approximately $145,000. Corient Private Wealth LLC owned 0.71% of Mexco Energy as of its most recent SEC filing. 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.