3 High-Yield Energy Stocks You Can Buy Right Now to Play the Oil Boom

Oil prices are booming this year. While crude prices have cooled off recently by falling below $100 a barrel for the first time since early May, oil is still up more than 30% this year. All this means oil stocks are generating a gusher of cash.

Many oil companies are choosing to return a large portion of that money to shareholders by paying massive dividends, making them great ways to play the oil boom. Three oil stocks currently offering big-time dividend yields are Devon Energy (NYSE: DVN), Pioneer Natural Resources (NYSE: PXD), and Diamondback Energy (NASDAQ: FANG).

Devon Energy launched the oil industry's first fixed-plus-variable dividend framework. The oil company pays a sustainable base dividend each quarter. In addition, it aims to pay out up to 50% of its free cash flow each quarter (after paying the base dividend) via a variable dividend.

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Source Fool.com