Dividend stocks are an attractive asset for investors, providing a steady stream of income over the long haul. As oil and gas prices remain low in the near term, many investors are turning to dividend stocks as a source of potential income. With the industry’s long-term outlook being uncertain, it is important to invest in dividend stocks that have proven track records and are well positioned for growth in the coming years.
In the US, five of the best dividend stocks in oil and gas for 2023 are Texas-based Occidental Petroleum, Chesapeake Energy, ConocoPhillips, Devon Energy, and Pioneer Natural Resources. Occidental Petroleum is an independent exploration and production company that has paid a dividend since 2008. The company boasts a strong balance sheet and has continued to grow its production and reserves. Chesapeake Energy is a natural gas producer with operations stretching across the US and Canada. Since 2020, the company has implemented strategies to improve its financial condition and reduce debt. ConocoPhillips is a leading and highly diversified independent exploration and production company that has paid dividends since 2011. It is the largest independent exploration and production company in the US and is committed to generating exceptional returns for shareholders.
Next on the list is Devon Energy, an independent oil and natural gas exploration and production company. Its varied portfolio has enabled it to pay a regular dividend since 1997 and to remain flexible in the disruptions caused by the COVID-19 pandemic. Last on the list is Pioneer Natural Resources, an independent exploration and production company with operations concentrated in Texas and New Mexico. The company has paid dividends since 2012 and has achieved impressive results despite market volatility.
These five oil and gas dividend stocks are well positioned for continued growth in 2023 and beyond. Investing in these stocks will provide shareholders with steady income over the long term and exposure to potential upside if oil and gas prices firm up. It is important to note, however, that oil and gas prices remain volatile, and investors should treat these stocks as short-term investments.
