3 Dividend Stocks That Didn't Need $100 Oil to Keep Raising Their Payouts
Occidental Petroleum, ExxonMobil, and Energy Transfer are still reliable income plays.
Overview
In early September, the prices of West Texas Intermediate (WTI) and Brent crude oil briefly soared above $100 per barrel as the conflict in Iran dragged on. That rally lifted many oil stocks, but it also slammed other industries with higher labor and logistics costs.
As of this writing, WTI trades at about $91 per barrel, while Brent remains above $100 per barrel. Those high prices will enable dividend-paying oil companies to generate ample cash to cover their payouts, but some investors might worry about dividend cuts if oil prices tumble.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.