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Oklahoma energy stocks excel in third quarter

Twenty-nine Oklahoma stocks logged gains in the third quarter, led by Tulsa-based Laredo Petroleum Holdings Inc. and five other energy companies.
BY JAY F. MARKS Business Writer jmarks@opubco.com Modified: October 1, 2013 at 9:15 pm •  Published: October 2, 2013
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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.

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Stocks

Top state stocks for third quarter:

Laredo Petroleum: +44.4 percent

Gulfport Energy: +36.6 percent

ONEOK Inc.: +29.1 percent

Chesapeake Energy: +27 percent

Matrix Services: +25.9 percent

Continental Resources: +24.6 percent

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