Mexco Energy (NYSE:MXC) Stock Price Down 3.1% – Here’s What Happened

Mexco Energy Co. (NYSE:MXC) dropped 3.1% during mid-day trading on Friday . The company traded as low as $7.16 and last traded at $7.23. 8,048 shares changed hands during trading, a decline of 69% from the average daily volume of 25,807 shares. The stock had previously closed at $7.46.

Mexco Energy Trading Down 3.1%

The firm has a 50-day simple moving average of $8.86 and a two-hundred day simple moving average of $9.96. The company has a market capitalization of $14.79 million, a price-to-earnings ratio of 11.48 and a beta of 0.33.

Mexco Energy Announces Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.10 per share. This represents a dividend yield of 127.0%. The ex-dividend date of this dividend is Monday, June 15th. Mexco Energy’s payout ratio is 16.67%.

Institutional Trading of Mexco Energy

A hedge fund recently bought a new position in Mexco Energy stock. Corient Private Wealth LLC purchased a new stake in shares of Mexco Energy Co. (NYSE:MXC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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 filing with the Securities & Exchange Commission. 5.89% of the stock is owned by institutional investors and hedge funds.

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.