What is the best oil stocks to buy now
The views and strategies described in our content may not be suitable for all investors. Because market and economic conditions are subject to rapid change, all comments, opinions, and analyses contained within our content are rendered as of the date of the posting and may change without notice. The material is not intended as a complete analysis of every material fact regarding any country, region, market, industry, investment, or strategy. The energy sector is changing a lot, and renewable energy companies are taking more market share.
Even so, that doesn't mean there are few opportunities in the oil patch. The year was an historically challenging year for the oil industry, yet Enterprise Products Partners generated enough distributable cash flows to cover its distribution 1. The trend continues, and that's just one of the reasons why Enterprise Products Partners ranks as one of the best and safest energy dividend stocks right now.
The company stores, processes, and transports natural gas, natural gas liquids, and crude oil, so it should have a busy season ahead as winter comes. Its capital expenditures are also expected to taper going forward, which means its cash flows should remain robust and so should its dividend yield.
My recommendation: Buy this top-notch, high-yield dividend stock while it's still cheap. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
The combination enhanced its scale and reduced costs, positioning it to produce more free cash flow. Devon set a plan to return a significant portion of this money to investors by initiating an industry-first fixed-plus-variable dividend program.
The strategy would see the company make regular base dividend payments to shareholders that it could support at lower oil prices. In addition, Devon would make variable special dividends each quarter based on its free cash flow, financial situation, and oil price outlook. It calculates that number as its free cash flow after covering its capital expenses and base dividend.
Devon has the flexibility to use the remaining money to further shore up its already strong balance sheet or repurchase shares. So if you buy ConocoPhillips stock now, here's what you can expect: Higher cash flows, growing dividends, and share repurchases, all of which, along with the stock's 2. With Wall Street projecting ConocoPhillips' sales to more than double in the third quarter, the oil stock's upcoming quarterly release on Nov. Importantly, beyond its quarterly numbers, what matters is Devon's capability to efficiently return capital to shareholders in the long run. The oil stock could read more pass that test thanks to its new, unique fixed-plus-variable dividend policy.
With oil prices on the rise, that could mean some hefty dividend checks coming your way.
Well!: What is the best oil stocks to buy now
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