5 High Yield Dividend Stocks to Buy According to Billionaire David Harding

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1. Amplify Energy Corp. (NYSE: AMPY)

No. of Hedge Fund Holders: 9
Dividend Yield: 16%

Amplify deals with oil and gas exploration services such as managing exploration properties on behalf of U.S companies that own or operate them. 9 hedge funds owned the company’s stock as per the latest quarter, and Avenue Capital led the pack courtesy of its 2.56 million shares in Amplify Energy.

Amplify’s latest forecasts suggest that its positive cash flow from $60 WTI oil will amount to $25 million in 2021. The company’s positive cash flow might reach $50 million in 2022, with oil prices in their mid-50s, which paints a good picture of why it is in the list of best high yield dividend stocks according to David Harding. Poor fiscal performance from the oil production companies and price volatility in the energy industry have been a drawback for Amplify.

Recovering oil prices provided a huge boost to the company’s stock, as well as the Midstates merger. Amplify has been developing oil reserves for the last 13 years, but it still remains undervalued.

You can also take a peek at Billionaire Ken Fisher’s Top 5 High Dividend Stock Picks and Balaji Srinivasan’s Top 5 Investments, Portfolio and Ideas.

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