Eagle & Beagle. Feb. 24

Eagle & Beagle. Feb. 24
by Don Mecoy Modified: February 22, 2013 at 10:16 pm •  Published: February 24, 2013
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Eagle & Beagle

Eagle

Our hometown eagle this week is accustomed to change.

Last week, the change was an 8.7 percent gain in its stock price.

Just a few weeks ago, our own Jay Marks wrote that Oklahoma City-based PostRock Energy was continuing a metamorphosis — to a greater emphasis on crude oil, and away from front-office shenanigans that landed a couple of former executives in the gray-bar hotel several years ago.

The firm has established new credit lines, attracted investment and settled some debts.

Shares of PSTR closed Friday at $1.99. Doesn't that sound like the stock's on sale?

Beagle

Our beagle looks like it's been sentenced to the doghouse.

For the second straight week, Oklahoma City-based GMX Resources was the worst-performing state-based stock. But this past week surely left our friends at GMXR with hangdog expressions.

Shares of the stock plummeted 49.6 percent, closing at $2.50. A week earlier, the shares tumbled 29 percent.

The company last week provided an update on reserves and liquidity — and the news wasn't good on the liquidity front.

GMX management plans to hire a financial adviser to explore funding alternatives, “including a potential restructuring of the company's balance sheet in light of its current liquidity and cash needs.”

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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