MXC might be good for a quick earnings scalp, but I'm on the sidelines too. With oil way off its highs of earlier this year, natural gas prices tumbling back down in recent weeks, and a possible severe recession looming...I'm not overly excited about the energy sector.
MXC posted a favorable comp as we were expecting. Fiscal Q2 earnings of .55/share vs .33/share last year. Revenues up 48%. I'm a bit surprised the stock is red on such a ridiculously strong market day. But the energy sector does seem to be lagging today
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