Occidental’s Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates and calcium chloride.
Investors receive just a 0.87% dividend. The target price on Occidental Petroleum stock at Barclays is $84. The consensus target is $75.83, and shares closed on Monday at $60.05.
Pioneer Natural Resources
Many Wall Street analysts love this stock as a pure crude oil play and, the company also is looking to employ variable dividends. Pioneer Natural Resources Co. (NYSE: PXD) operates as an independent oil and gas E&P company in the United States.
The company explores for, develops and produces oil, NGLs and 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 in 2022 and beyond.
The dividend yield is 8.26%, though it may vary from quarter to quarter. The Barclays target price is $339. The consensus target is lower at $299.53. The final Pioneer Natural Resources stock trade on Monday was at $214.05 a share.
Note that Devon and Pioneer Natural Resources are using variable dividend programs, so it is very possible their big dividends could shrink at some juncture. The other five will pay consistent and, in most cases, above-average dividend yields that are very dependable. While second-quarter results should be outstanding for all these companies, it may make sense to buy partial positions or use a buy-write covered call strategy when adding shares or initiating new positions.
Originally posted at 24/7 Wall St.
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