With cratering oil prices I re-balanced my portfolio to reduce my exposure to the energy sector.
Removed:
Parsley Energy (PE) shale oil producer - When investors return to the energy sector, best of breed companies will benefit first before money trickles down to the smaller operators.
Ensco (ESV) offshore driller - I was holding two offshore drillers so I choose to sell Ensco and hold Rowan because Rowan has the younger fleet.
Added:
EOG Resources (EOG) shale oil producer - Was able to lower my cost basis. This is a best of breed producer that will benefit first from any energy market turnaround.
Under Armour (UA) active wear retailer - I like the products and management and the stock finally pulled back from all time highs.
Starbucks (SBUX) coffee retailer - I like management and their embrace of technology to stay relevant to a younger generation.
More importantly I consolidated my holdings from 10 to 8 so it will be much easier to re-balance in the future without having to close out positions.
