Eagle & Beagle
Our eagle this week benefitted from having its talons firmly in the ground — actually well below ground.
The ground in question is in the Utica Shale, deep under eastern Ohio, where Gulfport Energy Corp. has found a goodly amount of petroleum products including natural gas, natural gas liquids and condensate.
When the Oklahoma City energy firm late Tuesday disclosed recent test results from a Utica Shale well, the company's shares jumped.
GPOR shares, which closed Tuesday at $31.73, opened Wednesday at $33.04. By week's end, the stock had gained 15 percent to finish at $38.04.
That's the highest closing price for Gulfport Energy Shares in more than a year.
It was a mostly positive week on Wall Street, and that was reflected in state stocks where gainers outpaced losers.
And the biggest loser, Tulsa-based WPX Energy, slipped a modest 4.5 percent over the past five trading days. The decline puts the stock at $15.79, or just about six bits more than WPX Director David Work paid for a couple of thousand shares early last month.
If you like to follow insider trades or you're a fan of the oil and gas firm's production footprint — which includes the Piceance Basin, Bakken Shale and Marcellus Shale — this might be an opportune time to stake a claim.
But, as always, perform your due diligence to determine your comfort with this or any potential purchase. This one, after all, is closer to its 52-week low than its 52-week high.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) by Business Writer Don Mecoy.