I have received a lot of questions recently on RIG and ESV two of my recommendations earlier this year.. Both have underperformed the market since my initial blog commentary.
For the record I own RIG in my portfolio, and added at $49 in June.
and just added shares in my call writing portfolio which can be seen here
ESV was purchased in March @ 57
Both stocks have come down to levels where they can be added or new positions initiated.. RIG now trades with a 5% yield , ESV yields 3.6% at present prices..
Both companies are fundamentally sound and I believe the offshore drilling future bodes well for both . Apparently this article agrees with that assessment
Conclusion - If you missed them before here is another opportunity to get in at a slightly lower level.. While its difficult to be aggressive adding positions with the market at or near highs , these two stocks will add income & potential huge rewards for the patient investor. Purchase of RIG @ 43-44 level and ESV @ 54-55 while they are on sale , will turn out to be a prudent decision..
Best of Luck !
Additional disclosure: I am long numerous equity positions ( all can be seen here on this blog)I am short gold via DZZ