Mexco Energy (NYSE:MXC) Stock Jumps 2.2% – Still a Buy?

Mexco Energy Co. (NYSE:MXC)’s share price traded up 2.2% on Tuesday. The company traded as high as $9.91 and last traded at $9.80. Approximately 1,305 shares traded hands during trading, a decline of 96% from the average session volume of 29,457 shares. The stock had previously closed at $9.59.

Mexco Energy Price Performance

The firm has a 50-day simple moving average of $10.19 and a 200 day simple moving average of $9.34. The company has a market capitalization of $20.46 million, a PE ratio of 15.87 and a beta of 0.43.

Hedge Funds Weigh In On Mexco Energy

A hedge fund recently bought a new position in Mexco Energy stock. Corient Private Wealth LP acquired a new position in shares of Mexco Energy Co. (NYSE:MXC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,100 shares of the company’s stock, valued at approximately $76,000. Corient Private Wealth LP owned about 0.49% of Mexco Energy as of its most recent SEC filing. 5.89% of the stock is owned by hedge funds and other institutional investors.

Mexco Energy Company Profile

Mexco Energy Corporation is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of domestic oil and gas properties. The company’s activities include owning interests in producing properties, undeveloped acreage, mineral interests, overriding royalty interests and working interests in oil and natural gas wells.

Mexco primarily focuses on properties in the United States, with an emphasis on the Permian Basin of West Texas and southeastern New Mexico.