StockNews.com Initiates Coverage on Mexco Energy (NYSE:MXC)

StockNews.com assumed coverage on shares of Mexco Energy (NYSE:MXC) in a report released on Sunday. The brokerage issued a hold rating on the stock.

Mexco Energy Stock Performance

NYSE MXC opened at $12.00 on Friday. Mexco Energy has a twelve month low of $9.02 and a twelve month high of $16.52. The stock has a market capitalization of $25.08 million, a PE ratio of 19.67 and a beta of 0.54. The stock has a 50-day simple moving average of $11.79 and a 200 day simple moving average of $10.98.

Mexco Energy (NYSE:MXC) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.12 earnings per share for the quarter. Mexco Energy had a return on equity of 7.76% and a net margin of 20.37%. The business had revenue of $1.79 million during the quarter.

Mexco Energy Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 20th.

Hedge Funds Weigh In On Mexco Energy

A hedge fund recently bought a new stake in Mexco Energy stock. Meixler Investment Management Ltd. bought a new position in Mexco Energy Co. (NYSE:MXC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,616 shares of the company’s stock, valued at approximately $236,000. Meixler Investment Management Ltd. owned approximately 1.13% of Mexco Energy at the end of the most recent quarter. Institutional investors and hedge funds own 5.89% of the company’s stock.

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.