PXD - 2 High-Octane High-Yield Dividend Stocks That Could Rally Sharply From Here
2023-06-04 07:45:00 ET
Devon Energy (NYSE: DVN) and Pioneer Natural Resources (NYSE: PXD) are different breeds of dividend stocks. The oil companies pay fixed base quarterly dividends like most other dividend stocks. On top of that, they both pay variable dividends based on the oil-fueled free cash flow.
While their combined payouts rise and fall with oil prices, they offer attractive dividend yields with significant income upside potential. With oil prices poised to rally this year , those dividend payments (and their stock prices) could surge in the coming months.
Devon Energy and Pioneer Natural Resources currently offer some of the highest dividend yields in the S&P 500 . Based on its last quarterly payment, Devon's annualized dividend yield is near 6%, putting it roughly six times higher than the broader market. Meanwhile, Pioneer's most recent combined dividend payment put its dividend yield in the double digits.
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2 High-Octane High-Yield Dividend Stocks That Could Rally Sharply From Here