StockNews.com Begins Coverage on Mexco Energy (NYSEAMERICAN:MXC)

StockNews.com began coverage on shares of Mexco Energy (NYSEAMERICAN:MXC – Get Rating) in a research note issued to investors on Tuesday morning. The firm issued a hold rating on the oil and gas exploration company’s stock.

Separately, Canaccord Genuity Group reiterated a speculative buy rating and set a GBX 2 ($0.02) target price on shares of Mexco Energy in a research report on Wednesday, March 22nd.

Mexco Energy Stock Performance

MXC opened at $11.02 on Tuesday. The business’s 50-day simple moving average is $5.86 and its 200-day simple moving average is $6.25. Mexco Energy has a one year low of $10.33 and a one year high of $24.18. The stock has a market capitalization of $23.68 million, a P/E ratio of 5.62 and a beta of 1.13.

Mexco Energy Announces Dividend

The company also recently declared a dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were issued a $0.10 dividend. This represents a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, April 28th.

Institutional Investors Weigh In On Mexco Energy

A number of institutional investors and hedge funds have recently modified their holdings of MXC. Vanguard Group Inc. grew its holdings in shares of Mexco Energy by 270.3% in the 1st quarter. Vanguard Group Inc. now owns 61,108 shares of the oil and gas exploration company’s stock worth $990,000 after acquiring an additional 44,605 shares during the period. Renaissance Technologies LLC grew its holdings in Mexco Energy by 84.2% during the 2nd quarter. Renaissance Technologies LLC now owns 35,000 shares of the oil and gas exploration company’s stock valued at $602,000 after buying an additional 16,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Mexco Energy by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 41,094 shares of the oil and gas exploration company’s stock valued at $666,000 after buying an additional 999 shares during the last quarter. Institutional investors and hedge funds own 7.97% of the company’s stock.

Mexco Energy Company Profile

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Mexco Energy Corp. operates as an independent oil and gas company, which engages in the acquisition, exploration, development, and production of natural gas properties and crude oil. The firm operates its oil & gas exploration in the following areas: the Delaware Basin located in the Western portion of the Permian Basin, including Lea and Eddy Counties, New Mexico, and Loving County, Texas and the Midland Basin located in the Eastern portion of the Permian Basin, including Reagan, Upton, Midland, Martin, Howard, and Glasscock Counties, Texas.