Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

These 5 Dividend Payers Just Got A Lot More Attractive: Passive Income For Investors In The Energy Sector

Published 15/08/2022, 22:21
Updated 15/08/2022, 23:10
© Reuters.  These 5 Dividend Payers Just Got A Lot More Attractive: Passive Income For Investors In The Energy Sector

© Reuters. These 5 Dividend Payers Just Got A Lot More Attractive: Passive Income For Investors In The Energy Sector

With oil in peak demand as the global economy resurges, energy companies have been generating record-breaking profits not seen since the last cycle.

A great way to cash in on these stocks is owning them to generate passive income, as energy companies increase shareholder distributions to remain an attractive investment.

Energy Dividend Stock #1: Ecopetrol S.A. (NYSE: EC)

Ecopetrol is offering a dividend yield of 13.29% or $1.49 per share annually and does not have a track record of raising its dividend yield. Ecopetrol is a vertically integrated oil company with operations in Latin America and the United States Gulf Coast, as the company refines and markets crude oil and byproducts produced from its fields.

Revenues in the first half of 2022 increased by 108.3% primarily due to higher international reference prices and stronger price spreads in the Brent for gasoline, middle distillates and jet fuel, which reported record levels.

Energy Dividend Stock #2: Helmerich & Payne Inc (NYSE: HP)

Helmerich & Payne is offering a dividend yield of 3.26% or $1.00 per share annually that will be paid out quarterly, as there is no track record of raising its dividend yield. As of 2021, Helmerich & Payne has the largest fleet of U.S. land drilling rigs at roughly 236, with 30 international rigs and 7 offshore platform rigs, also owning 390,000 leasable square footage and 176 acres of undeveloped real estate.

The North America segment saw operating income of $57.4 million compared to operating income of $1.3 million during the previous quarter, driven by improving contract economics and modestly higher activity levels during the quarter.

Energy Dividend Stock #3: Marathon Oil Corporation (NYSE: NYSE:MRO)

Marathon Oil is offering a dividend yield of 1.33% or $0.32 per share annually utilizing quarterly payments, with a track record of raising its dividend yield over the past two years. Marathon Oil is an independent exploration and production company primarily focusing on unconventional resources in the United States.

As of the first half of 2022, Marathon Oil ​​executed $2.3 billion dollars of share repurchases since October 2021, reducing the outstanding share count by 15%, with over $1.6 billion of share repurchases year-to-date.

Go To: Why Jim Cramer Prefers Devon Energy Over EOG Resources (NYSE:EOG)

Energy Dividend Stock #4: Patterson-UTI Energy Inc (NASDAQ: PTEN)

Patterson-UTI Energy is offering a dividend yield of 1.04% or $0.16 per share annually to be paid quarterly, with a track record of raising its dividend yield once over the past year. As of 2022, Patterson-UTI Energy is one of the largest land rig drilling contractors with an average of 126 operating rigs in the United States and maintains moderately sized pressure-pumping operations primarily in Texas and the Appalachian region.

Andy Hendricks, Patterson-UTI's Chief Executive Officer, mentioned, “For the second quarter, our average rig count in the United States increased by six rigs to 121 rigs from 115 rigs in the first quarter. We expect our rig count in the United States will average 128 rigs for the third quarter as drilling activity continues to improve.”

Energy Dividend Stock #5: RPC Inc (NASDAQ: RES)

RPC Inc is offering a dividend yield of 1.02% or $0.08 per share annually that will be paid in quarterly installments, with no track record of raising its dividend yield. RPC provides specialized oilfield services and equipment primarily to independent and major oil and gas companies engaged in the exploration, production, and development of oil and gas properties throughout the United States.

Compared to the prior quarter, second quarter revenues increased 32%, while earnings per share increased by over 200% as net income increased to $46.9 million compared to $15.1 million in the previous quarter.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.