Eagle & Beagle
We know that earnings drive stock prices, but other things can too.
This week's eagle got a big boost after issuing its quarterly earnings report. But Gulfport Energy's $25 million profit, which translated into 45 cents per share, didn't even meet analyst's expectations.
What apparently grabbed traders' attention was Gulfport's 19 percent growth in revenue.
The stock opened more than $2 higher on Thursday in brisk trading. GPOR closed Friday more than $4 higher than a week earlier. It was up more than 21 percent over the past five days.
For long-term investors, those price levels are as welcome as an August cool front.
Oklahoma's publicly traded companies generally fared pretty well last week with more than half posting gains, including six stocks that rose more than 10 percent.
Our worst performer — Tulsa-based Apco Oil & Gas International — slipped 6.3 percent, with less than 100,000 shares changing hands over the past five trading days.
Apco was coming off a strong week in which it gained nearly 12 percent, which might have prompted some profit taking.
APAGF shares, closely held and thinly traded, have been volatile in recent months amid some political unrest in Argentina, where much of its operations are centered.
Long-term investors still holding this issue have demonstrated remarkable patience.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) by Business Writer Don Mecoy.