7/10/13: So Long, And Thanks for Nothing
We’re selling Nabors Industries (NYSE: NBR) from The Energy Strategist’s Aggressive Portfolio following the latest profit warning and on renewed evidence that the company’s board represents the interests of entrenched insiders. Total (NYSE: TOT) and Eni (NYSE: E) are downgraded to Hold in the Conservative Portfolio as they continue to lag US oil majors despite the high crude prices. Tesoro (NYSE: TSO) and HollyFrontier (NYSE: HFC) are now Holds in the Growth Portfolio, because dwindling margins will hurt refiners’ earnings. For more information, see the July 10 edition of The Energy Strategist.