Eagle & Beagle for June 16

Eagle & Beagle for June 16
by Don Mecoy Published: June 16, 2013
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Eagle

This week's best-performing local stock is probably a big fan of our methodology. Shares of PostRock Energy Corp., an Oklahoma City independent oil and gas company, provided owners with a 9.6 percent gain over the past five trading days. A pessimist might point out that last week's robust percentage gain amounted to just a 13-cent per-share appreciation. PSTR shares closed Friday at $1.48. Whether you view the price change as big or small, the firm recently reported that it has boosted its oil production, a key goal for the company. PostRock last month also said it had acquired central Oklahoma assets in the Woodford and Mississippian formations that should provide the company access to more oil. Meanwhile, the company expects to participate in three to five Oklahoma wells this summer. In today's energy world, oil is a big deal.

Beagle

This is a little embarrassing. This week's beagle is local energy giant Chesapeake Energy Corp. CHK shares slipped 6 percent last week, shedding $1.32 to close Friday at $20.68. Unfortunately, the stock's appearance here coincides with the appearance of the firm's new CEO on this section's front page. On the plus side, this week's decline ends a six-week run for CHK without a loss. At the beginning of that run, CHK shares were trading at $18.50. Also, shareholders at the company's annual meeting on Friday were mostly appreciative of the changes Chesapeake's leadership has wrought since its last annual meeting. CHK shareholders — at least the smart ones — are more focused on the company's bottom line and its attempts to move forward than a one-week decline in prices.

Business Editor Don Mecoy looks at the state's high-performing (eagle) and low-performing (beagle) stocks this week.

by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
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