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PXD - Don't Fall for These 3 Dividend Stocks: Cuts Are Coming
Pioneer Natural Resources Company
2024-03-30 05:02:00 ET
Devon Energy (NYSE: DVN) has a nearly 5% dividend yield. Pioneer Natural Resources (NYSE: PXD) yields about 4.3%. And Diamondback Energy (NASDAQ: FANG) has a roughly 4.2% yield.
Those are pretty attractive yields given that the S&P 500 Index is only yielding around 1.3% today, and the average energy stock pays 3.2%, using the Vanguard Energy Index ETF as a proxy.
There's only one problem: You can expect Devon, Pioneer, and Diamondback to cut their dividends.