Eagle & Beagle
It's been a tough few weeks for Wall Street.
Stocks have been sluggish, with the Dow finishing last week in negative territory for the fourth consecutive week. Both the Dow and Nasdaq, despite a good Friday, slipped 1.8 percent last week, with the S&P 500 down nearly as much.
That makes our eagle even more flight-worthy. Helmerich & Payne, a Tulsa-based contract oil and natural gas driller, posted record fourth-quarter and annual earnings, which prompted traders to push the stock price higher.
By week's end, HP shares gained 8.7 percent to close Friday at $49.92.
In a week with few standout stocks, HP was the clear winner among Oklahoma stocks.
Unfortunately, there were plenty of potential beagles to choose from this week.
Among the laggards were several of the usual suspects — stocks that have made regular appearances in the bottom half of this column.
But the runt of the litter this week was GMX Resources, an Oklahoma City energy company. GMXR shares have been low-priced and volatile for some time, attributes that garner the interest of the eagle and beagle on a regular basis.
A week ago here, we noted the 65 percent one-week gain of GMXR shares after the company announced an outside investment. That, regrettably, was followed by a 19.5 percent decline in the stock price. It closed Friday at 64 cents.
Perhaps it's time to limit our spotlight to stocks that trade for $1 or more.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Writer Don Mecoy.