Our portfolio updates for the week ending on October 4, 2024 are as follows.
In The Retirement Portfolio
Sold XOM
We exited our XOM position with only a 17% profit, which kinda sucks considering we picked it up at just $98 a share last year.
The reason I sold it was because a stock that I’ve been watching for over 2 years moved into my buying criteria. It hit its 52-week low and bounced upwards a little, signally a likely reversal.
Bought CIVI
We put $6,000 of our XOM proceeds into CIVI.
CIVI’s another energy stock that has at least 30% upside after its acquisition spree the past couple of years. That’s why it was on my radar.
They’re already seeing the benefits from this move with their:
- revenue up 33% year over year
- cash flow up 56% year over year
- EPS up 25% year over year.
CIVI has so much capital appreciation potential and yields 12% compared to XOM’s 3.3% yield. The switch was a no-brainer once it bounced off it’s 52-week low.
Funneled Cash Into BulletShares
The remaining $1,300 in proceeds from XOM went into BulletShares where it can wait for the next juicy opportunity.
Turned The DRIP Off On 3 Overvalued Stocks
We switched the DRIP off on OGN, MMM, and IIPR. These 3 have all appreciated in value to the point where reinvesting the dividends would be overpaying.
It makes more sense to take their payouts in cash until their valuations come back down. This cash will get moved into BulletShares waiting to buy the next juicy opportunity that crops up.
In The Van Life Portfolio
Sold EQNR To Buy CIVI
CIVI is just plain better than EQNR. Plus they have about the same yield.
EQNR yields 11.90% and CIVI yields 12.25%.
So why not have your money in the better option? Besides, as a Contrarian-Income-Value Investor, how could I not scoop up such an amazingly undervalued investment??
Want Portfolio Updates Sent Right To Your Inbox?
We post updates about our portfolios each week, but if you’re worried about missing this time sensitive information, get on our free Investing IINsights email list. You’ll also get market updates and Tim’s top hand picked investment ideas.
