Eagle & Beagle
In the wake of devastating tornadoes, a week ago in this space I skipped my usual market commentary.
Now, having just climbed out of a shelter, I say the heck with the weather. I'm going with to stick with business as usual, which is business.
Our best-performing local stock over the past two weeks was Tulsa-based Syntroleum Corp., which is seeking to commercialize its proprietary method of synthesizing fuel out of things like animal fats and grease.
The stock added a robust 23 percent over the past two weeks, which included Thursday's 17-percent jump.
There was no major news issued by the firm, but the strong trading volume that accompanied Thursday's big rally makes one suspect that there might be some news forthcoming.
In recent weeks, heavier-than-normal volume in SYNM trading has coincided with price gains.
Our local laggard is one of Oklahoma's heavy hitters.
ONEOK Inc. is a $9 billion Tulsa energy company best known as the largest natural gas distributor in Oklahoma through Oklahoma Natural Gas Co. Its shares slipped 8.4 percent over the past two weeks, closing Friday at $45.14.
While the decline produces a little heartburn for current investors, the lower price also provides an opportunity for those shopping for a local blue-chip, dividend-paying stock.
OKE's dividend now yields more than 3 percent, which can provide as much warmth as the company's main product.
Need more warmth? This is the same company that pledged $1 million to storm relief a week ago.
And that's where we came in. Be safe.
Eagle & Beagle is a weekly look at the state's high-peforming (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.