Eagle & Beagle
This week's eagle didn't exactly take flight, but it did gain a little altitude.
Some of the weeklong 4.2 percent updraft for shares of SandRidge Energy Inc., which closed Friday at $7.27, might have been provided by a sudden slew of online articles from websites with varying levels of credibility.
Motley Fool touted the company's handling of its balance sheet, but its online report ended abruptly with a pitch to buy an “up-to-the-minute” report on SD stock for just $10. I didn't spring for the data.
Meanwhile, several authors on Seeking Alpha, which boasts that it has more than 5,000 contributors, posted positive takes on SandRidge. I didn't read them all, but the headlines included raves containing phrases like “hot value play” and “the perfect stock.”
There's nothing wrong with reading these online takes, but a better Internet source for investment information is at www.sec.gov.
It's a return engagement for our beagle this week.
Shares of Apco Oil & Gas International, based in Tulsa, but with operations in several South American locales, slipped 9.1 percent last week. APAGF shares closed the week at $14.62 after setting a 52-week low earlier in Friday's trading day.
Apco shares have been a long slide since the Argentina government in May seized assets of a Spanish energy company, and the congress there declared that the oil and gas sector in Argentina was a matter of public interest.
The Argentine president granted increased control of the energy industry to his own government, assured his countrymen that oil and gas prices would be reasonable and required energy companies to submit their capital spending budgets for government approval.
Apco CEO Ralph Hill said in August it would take some time to see how that situation worked out. So far, it hasn't been good for Apco stock.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) low-performing (beagle) stocks by Business Writer Don Mecoy.