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

StockNews.com initiated coverage on shares of Mexco Energy (NYSE:MXC) in a research report released on Tuesday morning. The brokerage issued a hold rating on the stock.

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

Mexco Energy Stock Performance

Shares of Mexco Energy stock opened at $9.98 on Tuesday. The company has a market capitalization of $20.95 million, a P/E ratio of 11.09 and a beta of 0.70. The company has a fifty day moving average of $9.98 and a 200 day moving average of $10.91. Mexco Energy has a fifty-two week low of $9.02 and a fifty-two week high of $13.84.

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

Hedge Funds Weigh In On Mexco Energy

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted 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 in the last quarter. Renaissance Technologies LLC lifted its position in 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 acquiring an additional 2,500 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Mexco Energy by 270.3% during the first quarter. Vanguard Group Inc. now owns 61,108 shares of the company’s stock valued at $990,000 after acquiring an additional 44,605 shares during the last quarter. 5.89% of the stock is currently owned by institutional investors.

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.