Eagle & Beagle
Less than one third of our local stocks finished last week with higher prices than they began it — and most of those gains were miserly.
The top performer among stocks with Oklahoma ties was Access Midstream Partners LP, formerly known as Chesapeake Midstream Partners LP.
Units of ACMP gained 4.6 percent last week to close Friday at $33.13. The shares set a 52-week high of $33.65 on Thursday.
Access Midstream shares have been on the upswing for weeks, and a mid-September upgrade from Morgan Stanley didn't hurt. That upgrade was accompanied by an increase in the share target price to $39.
For long-term investors, the weekly price gain was modest. But it gains stature in the context of the performance of its peers and the wider market.
As noted above, it was a tough week for our local firms on Wall Street, but the entire market drooped the last several days of what has been a strong quarter.
The droopiest Oklahoma stock was one we have seen here before. Apco Oil & Gas International slipped 9.4 percent to close Friday at $16.09. That's less than $1 from the 52-week low for APAGF.
Apco, based in Tulsa, operates in Venezuela and Columbia and has suffered from political unrest as the government in Venezuela seized a European energy operation earlier this year. That action immediately put downward pressure on Apco's shares.
While management has sought to ease fears about the situation, the stock price has plummeted 80 percent this year. That despite the company producing sharply higher profits in the most recent quarter.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Writer Don Mecoy.