MXC has a couple of easy comps coming up, so the healthy year-over-year improvements should continue. They only got $2.25 per Mcf for their natural gas last quarter, so that should rebound to a higher price. MXC has the potential to post some big EPS in 2019 if oil prices stay in the $60's and $70's (and maybe higher) as the Permian bottleneck issues are eventually resolved.
I view the stock as quite attractive in the low $5's. Energy sector has been ice cold of late. So maybe MXC goes even lower. I'll gladly be accumulating. Because there's lots of positives and this stock has one tiny float. Only a matter of time imo before we see another crazy spike higher. Like up 50-100% in a DAY. Might take awhile, but I can wait.
MXC did put out a rare quarterly earnings PR on Friday. Thought they only released an earnings PR with the yearend numbers. So maybe a sign they're improving IR efforts. Liked the quote from the president-lots of opportunities on their 'substantial' inventory of development acreage. And great to hear that they've already spent more money in July to finish 5 wells than they spent during the entire Q1.
From earnings PR:
In addition to an indeterminate number of wells to be drilled by other operators on Mexco’s royalty interests, the Company currently expects to participate in the drilling and completion of approximately 50 horizontal wells at an estimated aggregate cost of approximately $1,300,000 for the fiscal year ended March 31, 2019. The operators of these wells include Concho Resources, Inc., Marathon Oil Company, Mewbourne Oil Company, XTO Energy, Inc. and others.
During the first quarter of fiscal 2019, Mexco participated with various percentage interests in the drilling of the first 8 of these horizontal wells in the Delaware Basin located in the western portion of the Permian Basin in Eddy and Lea Counties, New Mexico with aggregate costs of approximately $142,000. Subsequently, in July 2018, Mexco expended an additional $192,600 for the completion of five of these wells.
The president of the Company, Tammy McComic, said, “We have excellent opportunities on our substantial inventory of development acreage in the Delaware Basin.”
Full PR:
https://finance.yahoo.com/news/mexco-energy-corporation-reports-financial-172925345.html
Recent MXC News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/13/2024 03:44:04 PM
- Mexco Energy Corporation Reports Financial Results for First Quarter • GlobeNewswire Inc. • 08/08/2024 08:32:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:22:57 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2024 08:20:15 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 07/22/2024 07:51:56 PM
- MEXCO ENERGY CORPORATION REPORTS FINANCIAL RESULTS FOR FISCAL 2024 • GlobeNewswire Inc. • 06/27/2024 09:25:00 PM
- Mexco Energy Corporation Declares Special Dividend on Common Shares • GlobeNewswire Inc. • 04/30/2024 08:46:41 PM
- Mexco Energy Corporation Reports Financial Results for Third Quarter • GlobeNewswire Inc. • 02/09/2024 11:15:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/09/2024 11:07:28 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/09/2024 11:04:07 AM
- Mexco Energy Corporation Reports Financial Results for Six Months • GlobeNewswire Inc. • 11/08/2023 10:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/08/2023 09:59:05 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/08/2023 09:58:30 PM
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