Nearly two-thirds of Oklahoma's publicly traded companies posted gains in the third quarter, led by Laredo Petroleum Holdings Inc.'s 44 percent rise.
Edmond investment adviser Greg Womack said the third quarter was an outstanding one for most state stocks, particularly energy companies.
Energy stocks in general have been undervalued by the market for some time, Womack said.
The energy industry led the gains by Oklahoma stocks in the quarter, which ended Monday.
The top six Oklahoma stocks are part of the oil and natural gas sector. Each one posted at least a 25 percent gain for the quarter, with Laredo followed by Gulfport Energy Corp., ONEOK Inc., Chesapeake Energy Corp., and Matrix Service Co. Continental Resources Inc. gained 24.6 percent.
Laredo, which was founded in 2006, is a Tulsa-based independent oil and natural gas company focused on west Texas' Permian Basin. Its stock rose more than $9 a share in the third quarter, going from $20.56 to $29.68.
In all, 29 of the state's publicly traded companies emerged from the third quarter with higher stock prices.
Womack said he expects many state stocks to continue to prosper under current market conditions.
“Unless you get a major decline in the price of oil and other commodities, it looks like there's still some air under the wings of some of these companies that could continue to perform well,” said Womack, president of Womack Investment Advisers Inc.
Eleven Oklahoma stocks saw their stock prices drop, with Syntroleum Corp. posting the largest loss.
The Tulsa-based company dipped by nearly a third, going from $6.90 a share to $4.61, as it struggles to find a way to monetize its formula for creating synthetic fuel from a variety of feedstocks.
Other stocks that lost ground in the quarter were AAON Inc., Panhandle Oil and Gas Inc., Educational Development Corp. and Chesapeake Granite Wash Trust. Each dipped more than 13 percent.
Top state stocks for third quarter: