Boston, MA 03/11/2014 (wallstreetpr) – Mexco Energy Corporation (NYSEMKT:MXC) functions in the exploration, development and production of oil and gas properties. The company is witnessing excitement around it given its planned property development projects this year.
The excitement around the stock can also be linked to its most recent quarter that came out strong by most measures.
While shares of Mexco Energy Corporation (NYSEMKT:MXC) were eventually down 3.96 percent to $9.70 by close of business Monday, the shares escalated to establish a new 52-week high point on the day. Monday was a fairly active trading day for the stock with large volume of shares changing hands.
Upcoming projects
Mexco Energy Corporation (NYSEMKT:MXC) announced plans to develop some oil and gas properties. The drilling of the properties is a joint venture and will be in the Permian Basin, West Texas. MXC has most of its properties in West Texas. The joint venture project will see the drilling of seven horizontal wells. The wells are expected to be completely developed this year.
Moving on
Mexco Energy Corporation (NYSEMKT:MXC) needs more project to uplift its revenue and net income columns. The oil and gas industry is beginning to see light after some troubling experience in 2013. Analysts hope that MXC can move to capitalize on its opportunities to maximize value for investors this year.
Improving revenue is just one area that the company can push ahead with its turnaround. Continued investment will no doubt boost revenue, but to get things trickling down to the bottom line, expenses reduction needs to be taken to the next level.
Bottom line
Mexco Energy Corporation (NYSEMKT:MXC) remains in exciting position as long as the company can take advantage of its opportunities. The improving situation in oil and gas industry is yet another reason to be interested in oil and gas stocks. Thus, investors are wise to keep a tab on this stock to see what comes of the pop that sent the shares to a new on-year high Monday.
