We added to two of our model portfolio positions during this week's rally and trimmed another during a post-earnings selloff.
Management has now raised the dividend for 17 consecutive years and we continue to find the shares attractive to hold.
We will add to McDermott after this kitchen-sink quarter decline.
Will management miss estimates again?
As stocks added to gains again this week, a new name joined the model portfolio and we trimmed one position and added to another.
Kodiak Oil & Gas announced mixed quarterly earnings results while SandRidge exceeded expectations.
The company saw solid productivity across its entire fleet and management is paying down debt.
Kodiak Oil & Gas, SandRidge Energy and Vantage Drilling are each set to report quarterly results in the next 24 hours.
With earnings season wrapped up, we are establishing six- to 12-month price targets for each of the holdings in the model portfolio.
We believe the company is poised for growth, so we are using today's decline in the stock to build up our position.