Eagle & Beagle
Rather than the usual bird chatter, we're going to use a horse analogy to pay tribute to three local energy companies that had a good run last week.
Our winner, PostRock Energy Corp., posted a nearly 10 percent gain to bounce back strongly from beagle status in the previous week. Volume remains uneven for shares of PSTR, which closed Friday at $1.56.
In the place position was Gulfport Energy, which showed late speed to hit the wire with a nearly 7 percent gain. GPOR closed Friday at $63.08. In the process, the stock set a new 52-week high during Friday's trading.
Showing was Continental Resources, shares of which added more than $5 over the past five trading days. The oil-producing giant sits just shy of $100 per share, and CLR was within a nose of reaching that round number while setting a new 52-week high of $99.66 on Friday.
So the state produced a bona fide stakes winner, a solid claimer and a raw maiden last week. The windows will be open again on Monday.
Clearly, it was a pretty good week for the energy sector — unless you were in the synthetic fuel business.
Shares of Tulsa's Syntroleum Corp., which is seeking to commercialize its proprietary method of synthesizing diesel and other fuels from things other than petroleum, took a tumble last week. SYNM shares slipped 8.7 percent to close Friday at $5.06.
The only public news from the company appeared to be good. Syntroleum announced that a patent dispute between it and a company called Neste would be reviewed by U.S. patent officials. In fact, the reviewing board said there was a “reasonable likelihood that Syntroleum would prevail.”
But legal entanglements related to patent disputes tend to be long-running, complex and can drive away investors and traders.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.