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In two of our recent articles, we looked for the top six oil & gas companies, and the top eight gas utilities paying excellent dividends.

With oil and gas prices going even higher, we decided to screen for the best oil and gas drillers with quite impressive dividends, and a maximum P/E ratio of 30. All of the companies that follow offered a minimum 5% dividend yield, and have a minimum market capitalization of $300 million. Data is derived from finviz. While there are hundreds of drillers listed in NYSE, only the following large cap drillers fit this criteria:

Crestwood Midstream Partners LP (CMLP): Crestwood is an oil& gas drilling company which gathers, processes and treats natural gas especially in north Texas. The market cap of CMLP is $958.1 million, and it has a P/E ratio is 27.68, with forward P/E of 18.85. Crestwood Midstream had an EPS growth of 73.72% over the last five years. Net profit margin in 2010 was 30.70%, while the company offered a dividend yield of 5.60% over the same period. Recent dividend payments of CMLP per share are as follows:

Jan 28, 2011

$0.43

Oct 29, 2010

$0.42

Jul 30, 2010

$0.42

Apr 30, 2010

$0.39

EV Energy Partners LP (EVEP): EVEP is a Texas-based company engaging in the acquisition, production and development of oil and gas properties. The market cap of EV Energy is $1.81 billion. Its P/E ratio is 15.33, while forward P/E is 19.16. Although EVEP had an annualized EPS growth of -0.07% over the last five years, the company is expected to have an EPS growth of 6% in the next five years. Last year’s dividend was 5.66% and the company had a net profit margin of 61.83%. Recent dividend payments of EV Energy per share are as follows:

Feb 3, 2011

$0.759

Nov 3, 2010

$0.758

Aug 4, 2010

$0.757

May 5, 2010

$0.756

Hugoton Royalty Trust (HGT): Operating as an express trust, Dallas-based Hugoton explores and sells oil and gas products. HGT has a market capitalization of $946 million, and a P/E ratio of 15.26. Hugoton had a negative EPS growth during the last five years, but this year earnings increased by 111.65%. Net profit margin in 2010 was 98.64%, while the company offered an outstanding dividend yield of 6.17% over the same period. Recent dividend payments of Hugoton per share are as follows:

Mar 29, 2011

$0.11

Feb 24, 2011

$0.12

Jan 27, 2011

$0.09

Dec 29, 2010

$.106

MV Oil Trust (MVO): MVO is a company in the business of owning net profits interest in oil and natural gas properties. It's based in Austin, Texas. The company owns about 1,000 producing oil and gas wells. The market cap of MV Oil is $459.5 million, and P/E ratio is 14.48, while forward P/E ratio is 11.35. The company had an EPS growth of 3.63% over the last five years. With a net profit margin of 97.41% and a dividend yield of 7.11%, MV Oil Trust is a superb stock for dividend lovers. Recent dividend payments of MV Oil per share are as follows:

Jan 13, 2011

$0.675

Oct 13, 2010

$0.61

Jul 13, 2010

$0.965

Apr 13, 2010

$0.605

Pioneer Southwest Energy Partners L.P. (PSE): Engaging in the ownership and acquisition of oil and natural gas properties in the U.S., PSE was founded in 2007 and is based in Irving, Texas. Pioneer Southeast Energy Partners has a market capitalization of $1.14 billion and a P/E ratio of 10.78 while forward P/E ratio is 13.54. PSE had an EPS growth of -1.89% over the last five years but the company is expected to have a 2.00% EPS growth in the next five. Net profit margin in 2010 was 57.59% while the company offered a dividend yield of 5.81% over the same period. Recent dividend payments of PSE per share are as follows:

Feb 1, 2011

$0.50 Dividend

Nov 2, 2010

$0.50 Dividend

Aug 2, 2010

$0.50 Dividend

Apr 30, 2010

$0.50 Dividend

Vanguard Natural Resources, LLC (VNR): VNR is another Texas headquartered company engaged in the acquisition and development of oil and natural gas properties. The market capital of Vanguard Natural Resources is $966.04 million. The P/E ratio is 26.17, while forward P/E is 14.3. VNR had an EPS growth of 5.00% over the last five years. With a net profit margin of 25.64% and dividend yield of 6.90%, Vanguard Natural Resources is a pretty nice stock for dividend lovers. Recent dividend payments of VNR per share are as follows:

Feb 3, 2011

$0.56

Nov 3, 2010

$0.55

Aug 4, 2010

$0.50

May 5, 2010

$0.525


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Disclaimer: The information has been checked for accuracy from a variety of resources, but no data is perfect. Measurements are subject to calculation as well as estimation errors. As always, do your own diligence when investing.

Source: Top 6 Oil and Gas Drillers Paying Impressive Dividends