No. 19 (tie) Semgroup Corp.: Leader to exit, but firm surges
By KYLE ARNOLD World Business Writer on Sep 15, 2013, at 2:29 AM Updated on 9/15/13 at 8:45 AM
Investment Guide
Strong management and a good track record are just a couple of reasons why some investment professionals ranked Laredo Petroleum Holdings Inc. among their top picks.
Sonic Corp. survived the Great Recession and is ready to outperform its peers in the restaurant business, says a respected Tulsa investment adviser.
SemGroup Corp. has been navigating in unchartered territory since the company filed for bankruptcy in 2008, but the energy products transportation and storage firm will soon be without the leader who guided it through choppy waters.
President and CEO Norman Szydlowski announced his retirement earlier this year and is sticking around only long enough to guide his unnamed successor into place.
"SemGroup made some mistakes along the way, but this is essentially a new company and the management has reenergized their business," said Dan Dixon, vice president at Fredric E. Russell Investment Management Co.
Still, there is enough confidence in the company that advisers gave SemGroup Corp. one of the final spots in the 2014 investment guide.
SemGroup upped its 2013 second-quarter income to $7.5 million, a 3.7 percent improvement over the same period a year ago. During the period, revenues at SemGroup dropped by $7.5 million, but expenses were slashed by more than $19 million.
First-quarter net income equaled $48.5 million.
SemGroup also owns a majority interest in Rose Rock Midsteam LP, a storage and pipeline company it spun off in 2011.
SemGroup has also begun paying dividends to shareholders for the first time in 2013, giving 19 cents a share in May and 20 cents a share in August. Shares of SEMG finished August at $52.97.
Semgroup Corp.
Address: Two Warren Place, 6120 S. Yale Ave., Suite 700, Tulsa, OK, 74136-4216
Phone: 918-524-8100
Web: www.semgroupcorp.com
President/CEO: Norman J. Szydlowski
Symbol (Exchange): SEMG (NYSE)
Operation: Energy products transportation and storage
Original Print Headline: Leader to exit, but firm surges
Investment Guide
Strong management and a good track record are just a couple of reasons why some investment professionals ranked Laredo Petroleum Holdings Inc. among their top picks.
Sonic Corp. survived the Great Recession and is ready to outperform its peers in the restaurant business, says a respected Tulsa investment adviser.
