Eagle & Beagle
Last week’s trading of our eagle produced that type of stock chart that makes investors smile.
Units of Compressco Partners LP traded lightly early in the week, but the volume built as the price increased. GSJK shares (the ticker symbol comes from the company’s GasJack pressure system) closed higher each day than the day before. By week’s end, the issue had posted a new 52-week high.
For the week, GSJK jumped nearly 16 percent to end Friday’s trading at $28.45.
The local firm helps energy companies generate more oil and natural gas through what the company calls “compression-based production enhancement services.” In other words, they get the goods out of the ground.
The higher price reflects the company’s higher earnings, raised dividend, analyst opinion, and continued demand for its products.
Another week of good news — only three state-based stocks posted price losses that exceeded 1 percent. Unfortunately, someone has to be the beagle, with the caveat that this is a very shallow doghouse.
Shares of AAON Inc., a Tulsa-based producer of commercial heat and air conditioning equipment, took a small dip falling 2.8 percent to close Friday at $26.69.
Prior to February, AAON shares had been on a 15-month march to a new all-time high. But traders have shed shares this year to bank profits.
AAON last week also attracted the attention of a New York City law firm fishing for shareholders to participate in its investigation into a recent (and relatively routine) share issue by AAON.
That might have had a small effect on the minor price change.
Nothing for long-term investors to sweat.
Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.