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

StockNews.com started coverage on shares of Mexco Energy (NYSE:MXC) in a research note issued to investors on Sunday morning. The firm issued a hold rating on the stock.

Mexco Energy Stock Down 0.8 %

Shares of Mexco Energy stock opened at $12.00 on Friday. The firm has a market cap of $25.08 million, a price-to-earnings ratio of 13.33 and a beta of 0.62. Mexco Energy has a 52-week low of $9.02 and a 52-week high of $16.52. The company’s 50-day simple moving average is $11.59 and its 200-day simple moving average is $10.91.

Mexco Energy (NYSE:MXC) last issued its earnings results on Friday, February 9th. The company reported $0.16 earnings per share (EPS) for the quarter. Mexco Energy had a return on equity of 11.61% and a net margin of 28.37%. The business had revenue of $1.66 million during the quarter.

Insiders Place Their Bets

In related news, President Tammy Mccomic sold 6,606 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $13.52, for a total value of $89,313.12. Following the completion of the sale, the president now owns 59,859 shares in the company, valued at $809,293.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 9,447 shares of company stock worth $127,063. Corporate insiders own 51.02% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mexco Energy stock. Meixler Investment Management Ltd. purchased a new position in shares of Mexco Energy Co. (NYSE:MXC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 reporting period. 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.