Oil Prices Are on the Rise: 3 Dividend Stocks to Play the Energy Rally
Oil prices had been stuck in a rut over the past year, bouncing between $65 and $80 a barrel. However, crude has recently broken out of that range, rallying into the mid-$80s, fueled by OPEC's extended production cuts. Crude could continue rallying as demand surpasses supplies in the coming months.
Higher oil prices would be a boon for all oil stocks. However, some look like more compelling investment opportunities, especially for dividend-seeking investors. Pioneer Natural Resources (NYSE: PXD), (NYSE: COP), and Devon Energy (NYSE: DVN) stand out to a few Fool.com contributors for their oil-fueled dividends. Here's why they believe this trio could be a great way to cash in on the oil price rally.
Reuben Gregg Brewer (Pioneer Natural Resources): Unlike most companies, Pioneer Natural Resources has a variable dividend policy. The quarterly dividend payment is tied to the company's financial performance, which indirectly means the dividend is linked to oil prices. As an oil and natural gas producer, Pioneer's top- and bottom-lines are driven by how much money it collects per barrel of production. That, of course, goes up and down along with the commodity prices of these vital fuels.
Source Fool.com
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