Eagle & Beagle for May 10, 2014

Don Mecoy: A weekly look at high-performing (eagle) and low-performing (beagle) stocks among Oklahoma companies.
Oklahoman Published: May 11, 2014
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Stocks

Eagle

Ka-boom! This week’s eagle rocketed off the pad, fueled by a strong earnings report and a big piece of new business.

After markets closed Thursday, Tulsa-based Matrix Service Co., which builds and fixes energy infrastructure, announced that it had nearly doubled its first-quarter profits on record-high revenue.

Before the bell rang Friday morning, Matrix unveiled a $100 million deal to build storage tanks at crude oil terminals in Michigan and Wisconsin.

The stock jumped 18 percent Friday on triple the average daily volume, producing a 9.5 percent gain for the week.

MTRX shares closed at $33.57, which I’m sure is disheartening to traders who got out at less than $29 earlier in the week.

Beagle

Earnings also is the story behind this week’s beagle, which got dogged after issuing its first-quarter results.

Oklahoma City-based Gulfport Energy reported that it nearly tripled its profits and had quadrupled its production.

But analysts had expected even better numbers. GPOR missed per-share earnings by a penny, and also was shy of revenue estimates. Several analysts downgraded the stock, and traders were listening.

The shares fell nearly 18 percent last week, closing Friday at $60.88.

After four months of gains, apparently some folks were looking for an excuse to sell.

Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.

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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