It’s fair to say this year’s Oklahoma Inc. was put together with one notable omission: input from local analyst Bob Rader. For several years, Rader’s voice helped explain the Standard & Poors’ rankings of many companies in Oklahoma Inc. He loved being a contributor to our regular coverage and especially liked being part of the analytical mix for the annual financial section. The former senior vice president at Capital West Securities in Oklahoma City died July 15. Rader loved what he did, loved a chance to review numbers, explain what they mean or could mean. He was almost professorial in helping reporters get through the malaise of financial documents. We appreciated that. I’m not sure whether the company leaders realize how much of a cheerleader he was for their success.
Ranking Oklahoma Inc.Historically, to be ranked, companies must have reported their financial information with the Securities and Exchange Commission for the quarter ending June 30. They also had to have been publicly traded by Aug. 20. But four companies — Double Eagle Holdings, Ltd., Greystone Logistics Inc., Osage Bancshares Inc. and Semgroup Energy Partners — were ranked based on first quarter information, the most recent data available when Capital IQ did the computations. Capital IQ, the analyst, is a Standard & Poors company. The list uses three main areas — earnings per share, revenues and total return based on stock price and the reinvestment of dividends. Companies with the best average score rose. Percent change in earnings per share was the tie-breaker for companies that had identical overall ranking scores. The bottom line: our ranking criteria measures and rewards performance, not size. That’s why a company such as Graymark Healthcare Inc., which was unranked last year and whose market value isn’t near the ballpark of, say, the state’s largest energy company, is listed higher than Devon Energy Corp.
Looking aheadAfter shrinking to as low as 33 a few years ago — from 50 — the Oklahoma Inc. list of stocks has grown again in the last few years. Next year, the Hiland companies will be removed from the list if Harold Hamm takes them private, but there’ll likely be a couple of newcomers. Chaparral Energy is expected to trade under "CPR” on the New York Stock Exchange in December. The company in October struck a $1.8 billion deal with United Refining Energy Corp., a special purpose acquisition company lead by John Catsimatidis, who earlier tried to run reorganizing bankrupt Tulsa energy SemGroup LP. And one company to watch for a possible move to a major exchange is the Beard Co. Beard, which shows a 43.5 percent increase in total return among bulletin board stocks in the rankings, has traded as high as $11.73 this year before offering a stock split earlier this month. Clearly, this is not a penny stock.