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Oil Explodes Higher: 6 Big Dividend Stocks To Buy Still Have Room To Run

Seemingly every day, we see the price of oil shoot higher. Brent crude closed Wednesday at $114.71 and West Texas Intermediate finished the day not far behind at $111.30. These are the highest prices for the black gold since 2011, and just this week alone prices are up a stunning 22%. While the policies of the Biden administration have had an effect, another key to the price increases is the potential for far less energy exports from Russia, as they remain in a serious conflict with Ukraine.

While the shale producers are starting to ramp up production, supply chain issues, the current runaway inflation (checking in at the highest level in 40 years) and a growing labor shortage have hindered the industry’s ability to increase output. The Organization of the Petroleum Exporting Countries (OPEC) is meeting this week, and it is uncertain whether they will raise production.

The bottom line for investors is that, while the parabolic moves higher could come to an end at some point, it makes sense to own dividend-paying energy stocks. We screened our 24/7 Wall St. research database looking for high-yielding stocks that still have room to run after over a year of gains for the sector. The following six still make good sense, provide different angles to play the sector and are all rated Buy at major Wall Street firms.

The post Oil Explodes Higher: 6 Big Dividend Stocks to Buy Still Have Room to Run appeared first at 24/7 Wall St.