Investing

Energy Dividend Stocks Are On Sale Right Now

Austin Smith

Published: April 4, 2024 4:10 pm

In today’s episode of the 24/7 Wall St Podcast Lee Jackson and Doug McIntyre take a look at the energy sector. In December the United States produced more oil than any country in history.  Despite a great year so far, with many energy stocks like Exxon Mobil (NYSE: XOM) more than double the S&P 500’s return, the sector still looks cheap. Plenty of major oil companies with rock solid balance sheets and dividends yielding 3%, 4%, and higher there are bargains to be had.

Transcript

for our viewers there’s
still some very very good
bargains out there even
though the energy sector
has really had the best
quarter it’s had in some
time but there’s still some
very good deals chevron
still yields over four
percent and you’re buying
one of the safest companies
in the world who’s in the
process of buying hess
I think that actually,
if you look at all the big oil companies,
every one of them, Exxon, BP,
they all are sort of on the cheap side,
aren’t they?
In terms of when you look at,
when you look at sort of
standard metrics like PEs.
Oh, absolutely.
They are.
And they all yield at least
three and a half to three
and three quarters like Exxon does.
And I think BP and Total yield 4% plus and
I think for investors that
are looking for passive income,
but also want to catch this
move in the oil industry,
there’s a lot of really
good deals out there.
Yeah,
and they’ve got rock solid balance
sheets.
Oh, absolutely.
Absolutely.