5 Best Oil Stocks that Pay Dividends

3. ONEOK, Inc. (NYSE: OKE)

Number of Hedge Fund Holders: 20
Dividend Yield: 7.04%

ONEOK, Inc. (NYSE: OKE) gathers, processes, stores, and transports natural gas in the US. The company also serves crude oil and natural gas production companies and ranks 3rd on our list of the best oil stocks that pay dividends.

Timm Schneider, a Citigroup analyst, raised his price target on ONEOK, Inc. (NYSE: OKE) shares this June. The new price target is $57, raised from the previous price target of $49, with Schneider holding on to the firm’s Neutral rating on ONEOK, Inc. (NYSE: OKE) stocks.

In the first quarter of 2021, ONEOK, Inc. (NYSE: OKE) had an EPS of $0.86, beating estimates by $0.08. The company’s revenue was $3.19 billion, up 49.53% year over year and also beating estimates by $418.70 million. ONEOK, Inc. (NYSE: OKE) has gained about 25.72% in the past 6 months and 41.57% year to date as well.

By the end of the first quarter of 2021, 20 hedge funds out of the 866 tracked by Insider Monkey held stakes in ONEOK, Inc. (NYSE: OKE) worth roughly $67.3 million. This is compared to 22 hedge funds in the previous quarter with stakes worth approximately $105 million.