Mexco Energy Corporation (AMEX:MXC) Surges 64.57% in Last 5 Trading sessions

Mexco Energy Corporation (AMEX:MXC ) climbed 64.57% in last 5 day trading sessions from $7.96 on Feb 17 to $13.10 on Feb 24 after reporting profitable third quarter and under the influence of Libya turmoil. The Company recently reported its third fiscal quarter results, with net income of $26,898 or 1 cent a share compared to net income of $167,145 or 9 cents a share for the same quarter last year.  The operating revenue of $756,576 has been posted in the third fiscal quarter, a decrease of 13% from $865,169 for the third quarter of fiscal 2010. The average sales price for the quarter was $5.34 per Mcfe during the quarter, up 12% year over year from $5.25 per Mcfe for the same quarter last year.  Oil production decreased 8% year over year and gas production decreased 15% year over year during the third quarter.  This decrease in oil and gas production is attributable to natural decline. Shares of the company went up by 36 cents or 2.83% to close at $13.10. 0.667 Million shares have traded, compared to its average volume of 19K shares. On a technical basis, the stock is trading above its 50-Day Moving Average and 200-Day Moving Average of $8.30 and $6.98 respectively. The stock climbed to new annual high of $18.50 in its last trading session, its annual low being $5.26. The market capitalization of the stock stands at $25.68 million. Mexco Energy Corporation (Mexco) is oil and gas company engaged in the acquisition, exploration and development of oil and gas properties located in the United States. The Company's total estimated proved reserves at March 31, 2010, were approximately 8.406 billion cubic feet (Bcf) of natural gas and 240,000 barrels (bbls) of oil and natural gas liquids. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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