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

StockNews.com started coverage on shares of Mexco Energy (NYSE:MXC) in a report issued on Tuesday. The firm issued a hold rating on the stock.

Separately, TheStreet lowered shares of Mexco Energy from a b- rating to a c+ rating in a research note on Wednesday, December 6th.

Mexco Energy Stock Performance

NYSE MXC opened at $9.98 on Tuesday. Mexco Energy has a one year low of $9.02 and a one year high of $13.84. The company’s 50 day moving average price is $9.98 and its 200 day moving average price is $10.92. The firm has a market capitalization of $20.93 million, a price-to-earnings ratio of 11.09 and a beta of 0.70.

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

Institutional Trading of Mexco Energy

A number of hedge funds have recently made changes to their positions in MXC. Renaissance Technologies LLC raised its stake in shares of Mexco Energy by 15.2% during the first quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $308,000 after purchasing an additional 2,500 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Mexco Energy by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 40,321 shares of the company’s stock valued at $503,000 after purchasing an additional 957 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Mexco Energy by 270.3% during the first quarter. Vanguard Group Inc. now owns 61,108 shares of the company’s stock worth $990,000 after buying an additional 44,605 shares in the last quarter. Hedge funds and other institutional investors 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.