In this article, we will be looking at the 5 best oil stocks that pay dividends. If you want to see our detailed analysis of the oil, and energy sectors, go directly to the 10 Best Oil Stocks that Pay Dividends.
5. Exxon Mobil Corporation (NYSE: XOM)
Number of Hedge Fund Holders: 65
Dividend Yield: 6.09%
Exxon Mobil Corporation (NYSE: XOM), is an energy company with approximately 22,239 net operated wells with proved reserves, as of December 2020. It ranks 5th on our list of the best oil stocks that pay dividends.
Piper Sandler’s Ryan Todd has raised the firm’s price target on Exxon Mobil Corporation (NYSE: XOM) this July from $63 to $69. The firm has also retained a Neutral rating on the stock.
In the first quarter of 2021, Exxon Mobil Corporation (NYSE: XOM) had an EPS of $0.65, beating estimates by $0.05. The company’s revenue was $59.15 billion, up 5.32% year over year and also beating estimates by $2.89 billion. Exxon Mobil Corporation (NYSE: XOM) has gained about 21.77% in the past 6 months and 37.61% year to date as well.
By the end of the first quarter of 2021, 65 hedge funds out of the 866 tracked by Insider Monkey held stakes in Exxon Mobil Corporation (NYSE: XOM) worth roughly $2.77 billion. This is compared 63 to hedge funds in the previous quarter with stakes worth approximately $2.20 billion.
4. Valero Energy Corporation (NYSE: VLO)
Number of Hedge Fund Holders: 41
Dividend Yield: 6.18%
Valero Energy Corporation (NYSE: VLO) is a manufacturer of transportation fuels and petrochemical products. The company operates through its Refining, Renewable Diesel, and Ethanol segments, and ranks 4th on our list of the best oil stocks that pay dividends.
Theresa Chen, an analyst at Barclays, recently raised her price target on Valero Energy Corporation (NYSE: VLO) this June. The firm’s new price target on the shares is $94, up from the previous $84 price target, and Chen has also held onto her Overweight rating on Valero Energy Corporation (NYSE: VLO) shares.
In the first quarter of 2021, Valero Energy Corporation (NYSE: VLO) had an EPS of -$1.73, beating estimates by $0.12. The company’s revenue was $20.81 billion, also beating estimates by $1.37 billion. Valero Energy Corporation (NYSE: VLO) has gained about 6.85% in the past 6 months and 13.91% year to date as well.
By the end of the first quarter of 2021, 41 hedge funds out of the 866 tracked by Insider Monkey held stakes in Valero Energy Corporation (NYSE: VLO) worth roughly $462 million. This is compared to 38 hedge funds in the previous quarter with stakes worth approximately $409 million.
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.
2. TotalEnergies SE (NYSE: TTE)
Number of Hedge Fund Holders: 17
Dividend Yield: 7.24%
TotalEnergies SE (NYSE: TTE) is an oil and gas company operating across the globe through its Exploration & Production, Integrated Gas, Renewables & Power, Refining & Chemicals, and Marketing & Services segments. The company ranks 2nd on our list of the best oil stocks that pay dividends.
Piper Sandler has raised its price target on TotalEnergies SE (NYSE: TTE) just this July from $60 to $66.
In the first quarter of 2021, TotalEnergies SE (NYSE: TTE) had an EPS of $1.10, beating estimates by $0.24. The company’s revenue was $38.63 billion, up 0.15% year over year and significantly higher than the previous quarter’s $32.35 billion revenue. TotalEnergies SE (NYSE: TTE) has gained about 1.61% in the past 6 months and 3.85% year to date as well.
By the end of the first quarter of 2021, 17 hedge funds out of the 866 tracked by Insider Monkey held stakes in TotalEnergies SE (NYSE: TTE) worth roughly $1.16 billion. This is compared to 14 hedge funds in the previous quarter with stakes worth approximately $980 million.
1. Enterprise Products Partners L.P. (NYSE: EPD)
Number of Hedge Fund Holders: 26
Dividend Yield: 7.65%
Enterprise Products Partners L.P. (NYSE: EPD) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids, crude oil, petrochemicals, and refined products. The company ranks 1st on our list of the best oil stocks that pay dividends.
TD Securities has a Buy rating on Enterprise Products Partners L.P. (NYSE: EPD) shares, led by analyst Linda Ezergailis. Ezergailis also set a $28 price target on Enterprise Products Partners L.P. (NYSE: EPD).
In the first quarter of 2021, Enterprise Products Partners L.P. (NYSE: EPD) had an EPS of $0.64, beating estimates by $0.17. The company’s revenue was $9.16 billion, up 22.36% year over year and also beating estimates by $2.08 billion. Enterprise Products Partners L.P. (NYSE: EPD) has gained about 11.36% in the past 6 months and 21.93% year to date as well.
By the end of the first quarter of 2021, 26 hedge funds out of the 866 tracked by Insider Monkey held stakes in Enterprise Products Partners L.P. (NYSE: EPD) worth roughly $299 million. This is compared to 30 hedge funds in the previous quarter with stakes worth approximately $316 million.
ClearBridge Investments, an investment management firm, mentioned Enterprise Products Partners L.P. (NYSE: EPD) in its first-quarter 2021 investor letter. Here’s what they said:
“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names (including) Enterprise Products Partners LP. We are positive on this company’s strong balance sheets, competitive positions and exposure to an economic recovery.”
You can also take a peek at 10 Best Oil Stocks to Buy Amid Post-COVID Demand Boom and Price Volatility and 10 Best Oil Stocks To Buy Now.
