Mexco Energy (NYSE:MXC) Trading Up 3% – Still a Buy?

Shares of Mexco Energy Co. (NYSE:MXC) were up 3% on Tuesday . The company traded as high as $9.54 and last traded at $9.75. 4,947 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 22,602 shares. The stock had previously closed at $9.47.

Mexco Energy Trading Up 3.0%

The firm has a market capitalization of $19.95 million, a P/E ratio of 15.48 and a beta of 0.33. The stock has a 50 day simple moving average of $8.50 and a 200-day simple moving average of $9.63.

Mexco Energy Announces Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a dividend yield of 127.0%. Mexco Energy’s payout ratio is presently 15.87%.

Hedge Funds Weigh In On Mexco Energy

A hedge fund recently raised its position in Mexco Energy stock. Beddow Capital Management Inc. boosted its stake in shares of Mexco Energy Co. (NYSE:MXC) by 52.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,295 shares of the company’s stock after purchasing an additional 21,434 shares during the period. Beddow Capital Management Inc. owned about 3.04% of Mexco Energy worth $617,000 at the end of the most recent quarter. 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.