So my boss brought this rock in for me to look at but I am a bit stumped. It appears to be metamorphic in nature but has some interesting texture like that of petrified wood. It's also magnetic. The dimensions are rough 2.5" wide by 1.5" tall. Said he found it in the Colorado River.

Any help identifying this would be greatly appreciated!

Thanks,
Ryan

Looks like slag to me

http://meteorites.pdx.edu/meteor_wrong.htm

Ahhh... that seems about right, thanks!

I agree. It looks like slag from steel smelting.