In a recent filing with the Securities and Exchange Commission, Stacy D. Hardin, the secretary of Mexco Energy Corp (AMEX:MXC), reported a series of stock transactions involving the company's common stock. The transactions, which took place on April 15, 2024, included both acquisitions and sales of Mexco Energy Corp shares.
Hardin acquired a total of 498 shares of Mexco Energy Corp common stock through two separate transactions at prices ranging from $3.34 to $8.51, amounting to a total of $2,423. On the same day, Hardin also sold 147 shares at a price of $16.52 per share, totaling $2,428 in sales.
The transactions were part of Hardin's regular stock trading activities and resulted in a post-transaction holding of 8,678 shares of Mexco Energy Corp common stock. The sales and acquisitions are part of the normal course of business for executives and are disclosed to the public through the SEC filing to ensure transparency.
Investors often monitor such filings to get an insight into the behavior of a company's insiders. The filings provide a glimpse into the confidence level that executives have in their company's prospects, as buying shares may suggest they believe the stock is undervalued, while selling might indicate the opposite.
Mexco Energy Corp, headquartered in Midland, Texas, is involved in the crude petroleum and natural gas industry and operates under the standard industrial classification of Crude Petroleum & Natural Gas.
The reported transactions are detailed in the SEC Form 4 filing, which is a requirement for officers, directors, and certain shareholders to report their trading activities in company stock. The form is intended to promote transparency in the financial markets and is available for public viewing.
InvestingPro Insights
Amid the insider trading activities of Mexco Energy Corp (AMEX:MXC), current financial metrics and performance indicators provide additional context for investors evaluating the company's position. According to recent data from InvestingPro, Mexco Energy Corp holds a Price/Earnings (P/E) Ratio of 10.63, suggesting a potentially attractive valuation compared to industry peers. This is complemented by a strong Gross Profit Margin of 77.83%, indicating efficient management and a solid competitive edge in the crude petroleum and natural gas industry.
InvestingPro Tips highlight several key strengths for Mexco Energy Corp. Notably, the company has a robust financial structure, with liquid assets that exceed short-term obligations and cash flows that can sufficiently cover interest payments. This financial stability is underscored by the fact that Mexco Energy Corp holds more cash than debt on its balance sheet. Additionally, the company has experienced a strong return over the last month with a 27.76% price total return, which aligns with a positive trend over the last three months as well, boasting a 28.88% return.
While Mexco Energy Corp does not pay dividends to shareholders, the company's profitability over the last twelve months and its significant price returns over various time frames may be of interest to growth-focused investors. For those intrigued by these insights, there are more InvestingPro Tips available, which can be accessed for further in-depth analysis. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of information to guide investment decisions.
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