The first order of business this week is an apology. I declared Access Midstream Partners as our beagle last week. It was not. I could blame a worn printer toner cartridge and aging eyes, but ultimately I failed to double-check the results. Shares of ACMP were barely changed week before last. We ran a correction on Tuesday, but I wanted to add my regrets.
This week's best-performing stock was a local energy firm that has been producing.
Earlier this month, Gulfport Energy Corp. reported a second-quarter profit of $43.8 million, up from $25.1 million in the year-ago period while boosting its production of oil. The Oklahoma City company also promoted CFO Michael G. Moore to president.
After that news, the stock earned an upgrade from one analyst.
In the worst week of the year for the Dow Jones industrial average, GPOR's 3.7 percent gain must have felt like pennies from heaven for investors.
The stock closed Friday at $53.42, more than double the price of its low over the past year and within five bucks of the 52-week high.
Our beagle this week is building for the future.
Oklahoma City-based LSB Industries, which produces chemicals and climate control equipment, announced last week that it would build a new ammonia plant at its El Dorado, Ark., chemical facility. That's going to cost north of $250 million, the company said. It will use proceeds from a $425 million notes issue to pay for the project.
To say LSB has had problems with its chemical plants would be an understatement. Maintenance issues and accidents have hounded the company over the past few years.
But the company appears to be making the necessary upgrades to boost its production back to its previously profitable levels.
The stock slipped nearly 10 percent last week, closing Friday at $30.45 — just more than $2 off its 52-week low.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.