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From a
review of SEC filings, I found 25 Oklahoma Companies with stock markets
caps of above $1 Bil sometime since the beginning of 2018.
My Focus is
on Pretax Income rather than on After-Tax Net Income because Income Taxes are
simply a transfer of financial wealth between US Corporations and the US
Federal, US State and Foreign Governments. It has nothing whatsoever to
do with company operating performance.
When you have Abnormally High
Volatile Earnings like these, it is signaling that the US economy is not
functioning properly.
From a
review of SEC filings, the chart below shows the Audited Gold-Standard US GAAP
Pretax Operating Income (Loss) From Continuing Operations for the First Quarter
of both 2019 and 2018, the Fourth Quarter of both 2018 and 2017 and the Third
Quarter of both 2018 and 2017 for each of these 25 Largest Oklahoma Companies.
| US | US | US | US | US | US | ||||||
| GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | ||||||
| Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | ||||||
| Income | Income | Income | Income | Income | Income | ||||||
| Oklahoma Cos | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | |||||
| Reporting Quarterly Earnings to the SEC | First | First | Fourth | Fourth | Third | Third | |||||
| in Each of the Most Recent 3 Quarters | Oklahoma | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | ||||
| Market Caps > $1 Bil | City HQs | 2019 | 2018 | 2018 | 2017 | 2018 | 2017 | ||||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | ||||||
| ONEOK | Tulsa | 415 | 342 | 390 | 316 | 417 | 264 | ||||
| Williams Companies | Tulsa | 283 | 325 | (705) | (478) | 390 | 149 | ||||
| Alliance Resource Partners LP | Tulsa | 283 | 156 | 51 | 75 | 74 | 61 | ||||
| Continental Resources | Oklahoma City | 238 | 305 | 262 | 234 | 412 | 17 | ||||
| Magellan Midstream Partners LP | Tulsa | 209 | 212 | 310 | 239 | 596 | 199 | ||||
| BOK Financial | Tulsa | 140 | 136 | 128 | 127 | 152 | 128 | ||||
| Enable Midstream Partners LP | Oklahoma City | 122 | 114 | 174 | 105 | 139 | 113 | ||||
| ONE Gas | Tulsa | 112 | 116 | 61 | 79 | 22 | 30 | ||||
| Helmerich & Payne | Tulsa | 97 | (6) | 10 | 0 | 19 | (28) | ||||
| Gulfport Energy | Oklahoma City | 62 | 90 | 134 | 156 | 95 | 21 | ||||
| Paycom Software | Oklahoma City | 62 | 52 | 43 | 35 | 36 | 22 | ||||
| Mammoth Energy Services | Oklahoma City | 51 | 101 | 47 | 76 | 144 | (2) | ||||
| NGL Energy Partners LP | Tulsa | 43 | (35) | 111 | 32 | (53) | (164) | ||||
| BancFirst Corp | Oklahoma City | 41 | 37 | 41 | 37 | 42 | 33 | ||||
| OGE Energy | Oklahoma City | 41 | 65 | 69 | 97 | 235 | 266 | ||||
| AAON Inc | Tulsa | 14 | 5 | 17 | 17 | 20 | 23 | ||||
| Ring Energy | Tulsa | 9 | 9 | (8) | 2 | 6 | 4 | ||||
| Unit Corp | Tulsa | (3) | 11 | (103) | 9 | 28 | 5 | ||||
| Semgroup | Tulsa | (8) | (10) | 10 | 34 | 6 | (56) | ||||
| Laredo Petroleum | Tulsa | (10) | 87 | 152 | 410 | 56 | 11 | ||||
| WPX Energy | Tulsa | (62) | (41) | 483 | (188) | (14) | (73) | ||||
| Roan Resources | Oklahoma City | (81) | 35 | 205 | (10) | (2) | 11 | ||||
| Chaparral Energy | (104) | (11) | 79 | (101) | (12) | (18) | |||||
| Chesapeake Energy | Oklahoma City | (335) | 18 | 512 | 334 | 86 | (17) | ||||
| Devon Energy | Oklahoma City | (427) | (245) | 1,484 | 46 | 162 | 207 | ||||
| Total all 25 Oklahoma Cos | 1,192 | 1,868 | 3,957 | 1,683 | 3,056 | 1,206 | |||||
| ….. % Change From Prior Year Quarter | -36% | 135% | 153% |
