We’re getting word out of the SEC that the smart money is loading up on Mexco stock. Oil and gas has struggled to date this year, but the sector is starting to pick up, and it looks as though companies like Mexco are starting tto reap the benefit from the improved outlook.
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Mexco Energy Corp (NYSEMKT:MXC) reported that Taylor Nicholas C has picked up 929,350 of common stock as of 2016-12-19.
The acquisition brings the aggregate amount owned by Taylor Nicholas C to a total of 929,350 representing a 45.62 % stake in the company.
For those not familiar with the company, Mexco Energy Corporation is an independent oil and gas company. The Company is engaged in the exploration, development and production of natural gas and crude oil properties located in the United States. At March 31, 2016, its total estimated proved reserves were approximately 2.051 million barrels of oil equivalent (Boe) of which 53% was oil and natural gas liquids and 47% was natural gas. It also owns producing properties and undeveloped acreage in approximately 10 states. It acquires interests in producing and non-producing oil and gas leases from landowners and leaseholders in areas considered favorable for oil and gas exploration, development and production.
A glance at Mexco Energy Corp (NYSEMKT:MXC)’s key stats reveals a current market capitalization of $10.98 million based on 2.04 million shares outstanding and a price at last close of $5.00 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-02-16, Taylor picked up 8,500 at a purchase price of $5.00. This brings their total holding to 929,350 as of the date of the filing.
On the sell side, the most recent transaction saw Mccomic unload 1,300 shares at a sale price of $10.75. This brings their total holding to 30,690. .
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Mexco Energy Corp (NYSEMKT:MXC) as things move forward to see if its progress aligns with these transactions.
As mentioned, this is a tough industry to be in right now, but that doesn’t mean there aren’t opportunities to be had on the right exposure.
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