Mexco Energy (NYSE:MXC) Shares Down 6.5% – Here’s Why

Mexco Energy Co. (NYSE:MXC) fell 6.5% during mid-day trading on Monday . The stock traded as low as $10.74 and last traded at $11.00. Approximately 12,519 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 30,127 shares. The stock had previously closed at $11.76.

Mexco Energy Trading Down 0.5%

The firm’s 50-day moving average is $9.81 and its two-hundred day moving average is $9.53. The stock has a market cap of $22.24 million, a price-to-earnings ratio of 17.25 and a beta of 0.35.

Institutional Investors Weigh In On Mexco Energy

A hedge fund recently raised its stake in Mexco Energy stock. Beddow Capital Management Inc. lifted its holdings in Mexco Energy Co. (NYSE:MXC) by 52.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,295 shares of the company’s stock after buying an additional 21,434 shares during the period. Beddow Capital Management Inc. owned approximately 3.04% of Mexco Energy worth $617,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 5.89% of the company’s stock.

Mexco Energy Company Profile

Mexco Energy Corporation is an independent oil and natural gas company based in Midland, Texas. The company’s activities include acquiring, developing and producing oil and natural gas properties, with a focus on generating production from interests in established domestic energy regions.

Mexco primarily holds non-operated working interests, mineral interests and royalty interests in oil and gas properties. These interests allow the company to participate in production and development activities while relying in part on other operators to manage drilling, completion and day-to-day field operations.

The company’s property portfolio is concentrated in the Permian Basin and includes interests in other producing areas of the United States.