Eagle & Beagle, March 3

Eagle & Beagle, March 3
by Don Mecoy Modified: March 2, 2013 at 12:04 am •  Published: March 3, 2013
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Eagle & Beagle

Eagle

In the bottom half of this column a week ago, we learned that GMX Resources stock had shed nearly half its value in a matter of days after the company said it would seek a financial adviser to help it deal with a liquidity problem.

In the week just ended, GMX Resources hired an adviser, and the stock jumped 24 percent.

While the Oklahoma City energy company hasn't solved its problems overnight, traders apparently liked the move. And, when it comes to GMXR shares, traders haven't liked much about the company lately.

Over the past three weeks, the shares have slumped from more than $7 to $3.10, where it closed Friday.

Beagle

It was earnings week for our beagle, and traders had a bearish take on the news.

SandRidge Energy reported a narrower loss for the fourth quarter, and a profitable 2012 after the market closed Thursday. Stifel analysts downgraded the stock from buy to hold.

Shares of the Oklahoma City energy giant opened sharply lower on Friday, and finished the week down 9.2 percent even after rallying off Friday morning's low.

However, SD revenue grew last year and its adjusted quarterly earnings beat analysts' estimates. Meanwhile, CEO Tom Ward touted the value of the firm's well-developed holdings in the Mississippian play during his Friday conference call.

I would suggest keeping an eye on this one, but everyone already is.

Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.


by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
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