It is no secret that the stock market has been on a tear in 2012. Many stocks have seen outstanding gains. Some of the highest yielding energy stocks have been keeping up with the market and in some cases, outperforming the market. Today we are highlighting the top 7 performing energy stocks with a dividend yield over 3%. Each of these stocks is up 14% or more so far in 2012.
Oil prices are likely to hover around $100 a barrel while we wait to see how Europe handles the Greek riots and austerity measure. With oil around $100 a barrel many energy stocks are well positioned to maintain solid profits.
Provident Energy Ltd. (PVX)
Provident Energy stock is up 24.36% in 2012. PVX is a monthly paying dividend stock with a yield of 4.5% Its dividend has been on a steady decline however since 2003. Provident has been making many improvements to its balance sheet through improving margins and higher revenue growth. The company operates midstream natural gas services. Their facilities are located in Canada and the US.
Transocean Ltd (RIG)
Transocean's stock has increased by 28.4% so far in 2012 following 2 upgrades by analysts in December of 2011. RIG has a dividend yield of 4.7% and just started paying dividends in 2011. It has a payout ratio of 60%. Transocean is an international offshore drilling contractor that drills oil and gas wells.
Sinopec Shanghai Petrochemical (SHI)
Sinopec Shanghai's stock has risen almost 21% year to date. SHI has a dividend yield of 3.5% based on 2011 distributions. The company pays dividends annually and increased their dividend by over 25% in 2011. SHI's distributes its petroleum and chemical products internationally but does the majority of its business in East China.
Cheniere Energy Partners LP (CQP)
The stock of Cheniere Energy Partners has risen almost 19% so far in 2012. CQP has a dividend yield of 8% and has not increased its dividend since 2007. Cheniere is a limited partnership that owns and operated the Sabine Pass LNG receiving terminal located in Lauisiana.
Seadrill Ltd (SDRL)
Seadrill's stock has put on a 18.9% gain so far in 2012. It has a dividend yield of 7.9% and has increased its dividend for 2 years. It made 3 dividend distributions in 2008, 1 in 2009, 4 in 2010 and 6 in 2011. Seadrill is based in Bermuda and operates a fleet of 60 drillships, tender rigs and semi-submersible rigs.
PetroChina Co Ltd (PTR)
PetroChina stock has increased by more than 20% year to date. It has a dividend yield of 3.2% and pays dividends only twice per year. PTR has a 5 year dividend growth rate of 1.1% and has increased its dividend for 2 years. PetroChina produces and sells oil and gas in China. The company explores for, produces, refines and sells both crude oil and natural gas.
Exterran Partners, L.P. (EXLP)
Exterran Patners (Limited Partnership) has seen an increase of 14.3% in its stock price so far in 2012. It has a dividend yield of 8.6% and has increased its dividend for 4 consecutive years. EXLP has a 5 year dividend growth rate of 94.8%. The company provides natural gas contract services including design, monitoring, installation and repair operations.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.