There are a series of steps that help any stock attract owners.
For instance, many folks won’t even consider a stock priced less than $5. Micro cap stocks simply don’t hold that lure of blue chips. And the bigger the player, the more analyst coverage it will generate.
Our highest-flying state-based stock of last week picked up another analyst, who signed on with a bullish rating.
That helped propel Laredo Petroleum to a 13.2 percent weekly gain, which included a strong opening the day after the Robert W. Baird initiated coverage. It was the third new analyst to follow the firm this year, and all are recommending LPI as a buy.
The attention focused on this Tulsa energy firm’s Permian Basin activity is helping to push the share price back to the levels of its 52-high set nearly six months ago.
The analysts giveth, and the analysts taketh away.
This week’s beagle is in the “taketh away” sector.
Shares of Compressco Partners, an Oklahoma City firm that helps energy companies boost production, fell 5.4 percent last week, mainly due to a downgrade from analysts at Raymond James Financial. GSJK shares slipped more than 6 percent Wednesday after Raymond James lowered its recommendation on the issue to “market perform” from “outperform.”
GSJK closed the week at $28.01, which remains higher than any price in the stock’s history prior to this month. In other words, last week’s relatively small decline is from a lofty height.
Long-term shareholders remain solidly in the black with Compressco.
Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.