Jul 7, 2017

Recent Stock Sale - Oil Stocks (XOM, BP)

I drive a hybrid vehicle and I see more and more electric vehicles on the road everyday. This is a sure sign of things to come and renewable energy has finally come of age.

I've decided to trim back a few energy stocks namely (NYSE:BP) and (NYSE:XOM). These two fossil fuel giants have been struggling in recent years and I think their situation will only get worst unless they quickly diversify their core business.

With proceeds from this sale, I have added more beaten down REITs like (NYSE: HASI) and (NYSE: KIM).

Looking at the charts below of BP and XOM, one cannot help but wonder if ever these two companies will start to grow again.




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