Eagle & Beagle
The best performing Oklahoma-based stock of the week drew the type of chart that investors like to see.
Shares of Tulsa-based SemGroup Corp. closed higher than they opened every day last week, and on the last three trading days the stock traded with strong volume.
For the week, SEMG gained 8 percent to close at $36.75, a new 52-week high.
SemGroup is an energy company that deals with the transport and storage of petroleum produced and refined by others in this region. The midstream company earlier this month released its quarterly earnings, which showed a bit of improvement from the previous quarter and the year-ago period.
While natural gas prices remain a drag on earnings, CEO Norm Szydlowski said demand for midstream services continue to grow and that his company is positioned to benefit.
This is the late-summer doldrums period, when many Wall Street denizens abandon the Big Apple for their homes in the Hamptons.