5 Top Oil Dividend Stocks to Buy Now
The decline in oil prices over the past few years has dramatically impacted the oil and gas industry's ability to pay dividends to shareholders. Cash flows shrank as oil plunged, which forced most producers to cut back spending to survive. In many cases, one of the first outflows to go were dividends, because producers needed the cash to finance in-process growth projects.
That said, several larger oil producers were able to withstand the market downturn and not only maintain their dividend payouts but continue growing them even as they kept investing in the future. Now, with oil prices stabilizing in the upper $50s and those investments starting to come online, these companies have an even greater ability to keep increasing their already above-average payouts. That ability to survive and now thrive makes them excellent oil dividend stocks to buy now, with the following five standing out as the top options:
Oil Dividend Stock
Source: Fool.com
Exxon Mobil Corp. Stock
The stock is an absolute favorite of our community with 32 Buy predictions and no Sell predictions.
With a target price of 123 € there is a slightly positive potential of 13.68% for Exxon Mobil Corp. compared to the current price of 108.2 €.
