A Director at Mexco Energy (NYSE MKT: MXC) is Buying Shares

By Carrie Williams

Today, a Director at Mexco Energy (MXCResearch Report), Michael Banschbach, bought shares of MXC for $14K.

Following this transaction Michael Banschbach’s holding in the company was increased by 25% to a total of $81.92K. This is Banschbach’s first Buy trade following 5 Sell transactions.

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Based on Mexco Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.09 million and quarterly net profit of $417.1K. In comparison, last year the company earned revenue of $643.3K and had a net profit of $2,299. The company has a one-year high of $14.63 and a one-year low of $2.92. Currently, Mexco Energy has an average volume of 76.18K.

In the last 30 days, insiders have sold $119.3K worth of MXC shares and purchased $68.32K worth of MXC shares. The insider sentiment on Mexco Energy has been negative according to 26 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Mexco Energy Corp. operates as an independent oil and gas company, which engages in the acquisition, exploration, development, and production of natural gas properties and crude oil. The firm focuses on the Midland Basin located in Eastern portion of the Permian Basin including Reagan, Upton, Midland, Martin, Howard, and Glasscock Counties; and Delaware Basin located in the Western portion of the Permian Basin including Lea and Eddy Counties, New Mexico, and Loving County. The company was founded in April 1972 and is headquartered in Midland, TX.