This column was missing last week as I was hanging onto a roller coaster in Branson, Mo., on a Friday afternoon.
But shareholders of this week’s eagle must feel like they are on holiday.
Tulsa-based WPX Energy Inc., an oil and natural gas explorer spun off by Williams Cos., posted an 11.2 percent gain over the past two weeks. Much of that gain came after WPX released its earnings and announced that it expects its domestic oil production to grow 55 percent this year. That’s up from its earlier forecast of a 40-percent production gain.
While asset sales prompted a second-quarter loss, oil production is what investors, traders and analysts are seeking.
WPX traded 10 million shares Wednesday — its busiest trading day in nearly five months — and closed just below its 52-week high.
Did I mention I lost my car keys on that Silver Dollar City roller coaster? Well, I did.
Some owners of this week’s beagle know that sad, empty-pocket feeling.
Oklahoma City-based SandRidge Energy Inc. shares fell 16 percent over the past two weeks. SD reported earnings last week, which met analysts’ expectations, although revenue fell a bit short of forecasts. Global Hunter Securities downgraded the stock from accumulate to neutral, reversing its upgrade of just five months ago.
As someone who reads The Oklahoman’s drilling reports daily, I can tell you that SandRidge is reporting repeated successes in Alfalfa County.
The good news is the fine folks at Silver Dollar City found my keys and are mailing them back to me. For SD shareholders, the roller coaster, er, market reopens Monday.
Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.