This week’s eagle started the week with a bang.
Shares of Panhandle Oil and Gas Inc., an Oklahoma City developer of oil and natural gas properties, opened Monday morning at $59.49, more than $6 higher than its previous close. Trading also was heavy at Monday’s opening bell.
There was no big news issued over the weekend, but the enthusiasm might have been left over from a month-ago disclosure that PHX had spent $80 million on assets in Texas’ red-hot Eagle Ford play.
The stock continued to trend upward through the week, setting a new 52-week high of $64.85 on Friday before the closing the week at $64.44.
Those who bought PHX before Monday’s big move notched a robust 21 percent gain last week.
We keep finding puppies over here in the doghouse.
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