New Fortress operates in two segments. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction, as well as shipping, logistics, facilities and conversion or development of natural gas-fired power generation. The Ships segment offers floating storage and regasification units, and liquefied natural gas (LNG) carriers, which are leased to customers under long-term or spot arrangements.
New Fortress Energy operates LNG storage and regasification facility at the Port of Montego Bay, Jamaica; marine LNG storage and regasification facility in Old Harbour, Jamaica; landed micro-fuel handling facility in San Juan, Puerto Rico; marine LNG storage and regasification facility in Sergipe, Brazil; and LNG receiving facility in La Paz, Mexico, as well as Miami facility.
The dividend yield here is 8.91%. BofA Securities recently upgraded the stock and has a $67 target price. New Fortress Energy stock has a consensus target of $66.70, but the stock closed on Wednesday at $40.48.
Pioneer Natural Resources
Many Wall Street analysts love this stock as a pure crude oil play, and the company employs a variable dividend strategy. Pioneer Natural Resources Co. (NYSE: PXD) operates as an independent oil and gas exploration and production company in the United States.
The company explores for, develops and produces oil, NGLs and natural gas. It has operations in the Midland Basin in West Texas. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs and 462 billion cubic feet of gas, and it owned interests in 11 gas processing plants.
Pioneer production services are supported by 100 well-servicing rigs, more than 100 cased-hole, open-hole and offshore wireline units, and a range of advanced coiled tubing units.
Pioneer is a huge player in the Permian basin and the Eagle Ford in Texas, and the company owns more than 20,000 locations in the world’s second-largest oil reservoir in the Midland Basin. With a stellar balance sheet, the company is poised to remain a top player in the Permian, as it expects to deliver solid production growth going forward.
Pioneer Natural Resources stock investors receive a 10.85% dividend, which, again, could be lower this year and may vary from quarter to quarter. The Strong Buy rating at Raymond James is accompanied by a $300 target price. The consensus target is $273.93, and Wednesday’s close was at $223.96.
These five stocks offer different ways to play the energy sector. The advantage for investors is that solid distributions and dividends provide a backstop for the stocks and that could be a big plus if the market rolls over again, which now seems quite likely.
Originally published at 24/7 Wall St.
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