Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Top Paying Dividend Stocks - Oil & Gas

|Includes: BP, CVX, Valero Energy Corporation (VLO), XOM

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.

Top Paying Dividend Stocks
Ticker Name Price Forward Dividend Estimate Forward Yield
CVX Chevron Corporation 114.00 3.70 3.2%
XOM Exxon Mobil Corporation 89.92 2.44 2.7%
BP BP plc 41.93 2.10 5.0%
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.