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Mexco Energy Corporation - $MXC STOCK NEWS

Welcome to our dedicated page for Mexco Energy Corporation news (Ticker: $MXC), a resource for investors and traders seeking the latest updates and insights on Mexco Energy Corporation stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Mexco Energy Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Mexco Energy Corporation's position in the market.

Rhea-AI Summary

Mexco Energy declared a regular annual cash dividend of $0.10 per common share and authorized the use of up to $1,000,000 to repurchase shares of the Company's common stock. The Company's Board of Directors replaced the previously authorized $1,000,000 common stock repurchase program. Mexco Energy is an independent oil and gas company engaged in the acquisition, exploration, and development of oil and gas properties primarily in the Permian Basin.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.81%
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dividends
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Rhea-AI Summary
Mexco Energy Corporation (MXC) reported a 28% increase in net income for the third quarter of fiscal 2024 compared to the previous quarter. Operating revenues were $1,656,443 with an average sales price of $78.65 per barrel of oil and $1.82 per Mcf of natural gas. However, net income for the nine months ending December 31, 2023, decreased by 71% compared to the same period in fiscal 2023. Operating revenues for the first nine months of fiscal 2024 also decreased by 35% due to lower production volumes and decreased sales prices. Mexco plans to participate in drilling multiple wells with an estimated cost of $2,200,000 for the fiscal year ending March 31, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.51%
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Rhea-AI Summary
Mexco Energy Corporation (MXC) reports a 71% decrease in net income for the six months ending September 30, 2023, with operating revenues decreasing by 34%. The company attributes this to a decrease in average sales prices of oil and natural gas, partially offset by a 7% increase in production volumes. Mexco plans to participate in the drilling of 40 horizontal wells at an estimated cost of $1.7 million for the fiscal year ending March 31, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.98%
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Rhea-AI Summary
Mexco Energy Corporation (MXC) reported a net income of $465,614, or $0.21 per diluted share, for the quarter ending June 30, 2023, compared to $1,298,672 or $0.59 per diluted share, for the comparable quarter ending June 30, 2022. Operating revenues in the first quarter of fiscal 2024 were $1,748,419, a decrease of 29% from the first quarter of fiscal 2023. This was due to a 33% decrease in the average sales price of oil and a 69% decrease in the average sales price of natural gas. The company expects to participate in the drilling and completion of 40 horizontal wells and the completion of 21 horizontal wells drilled in the prior fiscal year, with an estimated aggregate cost of approximately $2.2 million for the fiscal year ending March 31, 2024. Mexco Energy Corporation is an independent oil and gas company located in Midland, Texas, primarily engaged in the acquisition, exploration, and development of oil and gas properties in the Permian Basin.
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Rhea-AI Sentiment
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-4.85%
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5.3%
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3.25%
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-32%
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8.63%
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Rhea-AI Sentiment
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-2.62%
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Mexco Energy Corporation

NYSE:MXC

MXC Rankings

MXC Stock Data

25.49M
892.42k
57.43%
5.87%
0.11%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
Link
United States of America
MIDLAND

About MXC

mexco energy corporation is an oil and energy company located in p.o. box 10502, midland, texas, united states.