BKR - $90 Oil: 3 Dividend-Paying Companies Set to Thrive
West Texas Intermediate crude oil, the U.S. benchmark, currently sits above $90 per barrel. Henry Hub natural gas prices are over $4.30 per one million British thermal units (MMBtu). These are the highest oil and gas prices since 2014.
Many oil and gas companies were pressured to cut spending and production during the COVID-19 pandemic. The result is what looks to be a multiyear period of low supply. Paired with increased demand as the economy rebounds, oil and gas prices have soared -- and many oil and gas stocks are now around 52-week highs.
However, there are still bargains if you know where to look. Baker Hughes (NASDAQ: BKR) , Caterpillar (NYSE: CAT) , and Phillips 66 (NYSE: PSX) are three dividend-paying oil and gas companies that are benefiting from $90 oil. Here's what makes each a great buy now.
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$90 Oil: 3 Dividend-Paying Companies Set to Thrive