Eagle & Beagle
A short-term stock chart reflects a steady ascent for our eagle.
Shares of Oklahoma City-based Continental Resources closed higher than they opened on each of the past eight trading days. Last week, CLR gained more than $8 to reach $76.05 — a nearly 13 percent five-day gain.
The stock on Thursday also topped its 200-day moving average, a key metric for technical traders.
Continental, a major player in the oil-rich Bakken Shale region in North Dakota, has attracted some major institutional investors of late.
But the company's biggest shareholder likely is the person most pleased with the recent stock moves. That, of course, is Chairman and CEO Harold Hamm, who controls more than two-thirds of CLR stock.
Our beagle this week found the price went down as the volume went up.
Chesapeake Energy Corp., which has taken its share of shots to the chops lately, posted a 10 percent loss last week. The stock fell nearly $2 to close Friday at $17.20.
Most of the loss occurred on the week's final two trading days, when more than 100 million shares of CHK changed hands.
The Oklahoma City energy giant has made a lot of news lately, with the most recent reports focusing on large bonuses many of its employees would be due if the company experienced a change of control. Chesapeake's largest shareholder also made news by asserting that leadership changes at the company have created a board that now is committed to shareholders.
My standard line is that this bears watching, but I think everyone already is.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Writer Don Mecoy.