Taking a look at some common, large cap dividend stocks in the Oil & Gas industry. It is important to distinguish between MLPs and dividend paying stocks which have different tax and accounting issues. The following table shows a quick selection of some majors with their forward dividend yields.
|Ticker||Name||Price||Forward Dividend Estimate||Forward Yield|
|XOM||Exxon Mobil Corporation||89.92||2.44||2.7%|
|VLO||Valero Energy Corporation||32.18||0.71||2.2%|
|SPY||S&P 500 Trust ETF||144.33||2.91||2.0%|
Source: Yahoo!Finance, author calculations and estimates.
BP plc (NYSE:BP) shows a great improvement in increasing its quarterly dividend from $0.42 to $0.48. However it should be noted that this is down from its previous level of $0.84 per share. Chevron Corporation (NYSE:CVX) is another promising opportunity. This $223 billion company (market capitalization) has a strong track record of paying dividends. Valero Energy Corporation (NYSE:VLO) is another dividend stock with an above market yield. VLO is focused on oil refining and marketing company. I look forward to doing some more research and digging back into the basic materials and energy sector to review dividend paying stocks.
Disclosure: I am long SPY.
Additional disclosure: Disclaimer: This article is for informational and educational purposes only and shall not be construed to constitute investment advice. Nothing contained herein shall constitute a solicitation, recommendation or endorsement to buy or sell any security.