Eagle & Beagle
There must be some readers of the Seeking Alpha blog among the shareholders of this week's eagle.
Shares of Apco Oil & Gas International jumped 8.5 percent last week, closing Friday at $12.45. APAGF has been trading for less than $20 since tumbling in the spring of 2012 from the $70 range. That followed some political posturing in Argentina, where the Tulsa-based company holds energy assets.
However, Seeking Alpha contributor Marshall Hargrave noted this month that two investment firms that held substantial Apco shares began selling their holdings last year. The stock, 69 percent owned by Tulsa's WPX, is lightly traded. That magnified the impact of the investment firms' sell-offs, accelerating the price decline for APAGF.
The company posted a $10 million profit in the first quarter, about the same as the year-ago period. Meanwhile Apco has been expanding its exploration in areas outside Argentina.
Volume has been on the increase, which makes this typically quiet stock worth watching.
Our beagle this week may look a little tired, but there's reason to believe this pooch is still frisky.
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