Eagle & Beagle
It was just an 11-cent gain last week for our eagle.
But that small gain represented a 15.3 percent boost to the low-priced (current 83 cents) shares of Syntroleum Corp., the Tulsa-based company that is seeking to successfully commercialize its proprietary method in turning things other than petroleum products into synthetic fuel to power cars, trucks and jets.
While 83 cents may not sound like much, it's the highest closing price for the stock since May.
On Friday, the company announced some good news: The U.S. Patent & Trademark Office granted Syntroleum's request for a re-examination of a patent related to the composition of diesel fuel. The patent is related to a lawsuit filed in May by a Finnish oil refining and marketing company.
Syntroleum said it will vigorously defend against the complaint and “is confident that its position will be vindicated.”
We've seen a fair amount of wobbling among some of our state-based public companies in this low-volume period that typically closes the summer on Wall Street.
Another example is this week's beagle, Tulsa-based Matrix Service Co., which slipped 6.9 percent last week to close Friday at $10.93.
Two weeks ago, Matrix also found itself as the worst-performing state-based stock. But in between these two sour weeks, MTRX shares gained a healthy 11.8 percent.
That earlier dip also came amid fairly strong trading, which is more reflective of a possible trend developing. That was not the case over the past five trading days.
The upshot is that Matrix is valued about where it was at the beginning of the summer, although off its springtime highs. Stick to the fundamentals with this firm, which provides construction and maintenance services mainly to the energy industry.
Eagle & Beagle a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Writer Don Mecoy.