Eagle & Beagle
Our eagle appears to gaining some momentum.
Gulfport Energy Corp. shares grew 10.6 percent last week, closing at $51.69. That's not just the highest closing price for GPOR shares in the past year; that's the highest closing price ever for the Oklahoma City company.
In the past couple of months, two analysts have initiated coverage of Gulfport, with both issuing positive recommendations.
While earnings dipped in the most recent quarter, the company boosted its oil production over the past year. And oil is in favor.
This month, Board Chairman Mike Liddell, a former CEO, said he would not stand for re-election at the upcoming annual meeting. Gulfport said there was no disagreement that led to Liddell's decision.
Obviously, traders don't seem to be worried about the direction of the company.
Last week, only a handful of state-based stocks failed to post higher prices. Thus, our beagle designation is awarded to a company that performed not all that badly.
Units of Tulsa-based ONEOK Partners LP, which gathers, stores, processes and moves natural gas and natural gas liquids, slipped 4 percent. The partnership's units closed Friday at $53.46.
The firm owns and operates assets in midstream natural gas and natural gas liquids businesses that are spread across the length and width of the Great Plains, from the Bakken Field in the north to the Texas Gulf Coast. The volume of natural gas the company processed and gathered jumped significantly last year, and officials last week said they expect another healthy increase in both categories this year.
OKS unit holders have seen their cash distribution regularly raised, and the yield is fairly robust compared to its peers.
So why the dip in price last week? Maybe someone sold a chunk of units to replenish their savings after tax season.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.