Friday’s Top Gainers: Mexco Energy Corporation, Sweetgreen & KLX Energy

Oil market volatility sends Mexco energy shares soaring 

Mexco Energy Corporation (NASDAQ: MXC) shares jumped 84.47% despite no company-specific releases. However, the jump has been attributed to low float, considering low float stocks have gained amid growing oil volatility in recent times. Gas and oil prices have been soaring following the Russia-Ukraine conflict that has impacted supply.

Recently the company announced a net income of $1.857 million or $0.89 per diluted share for the nine months ending December 31, 2021, relative to a net loss of $261,143 or $0.13 per share a year ago. in the third quarter ending December 31, 2021, the company had net income of $753,302 or $0.36  versus net income of $80,497 or $0.04 per share a year before.

The company plans to drill and complete around 43 horizontal wells estimated at $1.2 million for the fiscal year ending March 31, 2022.

Sweetgreen reports Q4 2021 revenue of $96.4 million 

Sweetgreen Inc. (NYSE: SG) was among Friday’s big gainers, with its shares rising 25.43% after the company released its Q4 2021 financial results. Total revenue in Q4 2021 was $96.4 million representing a YoY increase of $59.2 million. Same-store sales grew 36% compared to 28% the previous year. In addition, Sweetgreen realized total digital revenue of 65% with owned digital revenue of 43%. Net loss during the quarter was $66.2 million.

For the entire fiscal 2021, the company had revenue of $339.9 million, representing a 54% YoY increase. Same-store sales changed 25%, while total digital revenue percentage was 67 with owned digital revenue percentage of 46%. Net loss was $153.2 million compared to $141.2 million a year ago.

Sweetgreen expects to open around 35 net new restaurants, and revenue is pegged between $515 million and $535 million. For fiscal Q1 2022, the company is guiding for revenue of $100 million to $102 million with seven restaurant openings. Restaurant-level profit margin is expected 10% to 11% and 16% to 17%  for fiscal Q1 2022 and full year 2022, respectively.

KLX Energy among micro-cap oil operators benefiting from oil price volatility

KLX Energy (NYSE: KLX) was among the big gainers on Friday, with the stock jumping 21.75% on heavy trading volume. Currently, micro and small-cap stocks are enjoying a good environment with gas and oil prices surging which has improved fundamentals for small producers. The stock has a short squeeze of 15%  and for traders looking for short squeeze candidates in the energy sector KLX Energy is an exciting alternative.

With the Russia-Ukraine conflict continuing, volatility will continue to persist in the energy sector, which will push prices up, and names such as KLX energy are likely to benefit more. The Houston-based firm engages in drilling, well intervention, and production services. Most importantly, it focuses on drilling, site planning, and other services. High oil prices continue boosting valuations for oil and gas producers.