OPEC and China Could Drive Oil Back Over $100 a Barrel: 6 Big Dividend Winners

This red-hot energy play looks poised to press higher again. Diamondback Energy Inc. (NASDAQ: FANG) is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas and New Mexico.

Diamondback Energy primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin, as well as the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin. As of December 31, 2021, the company’s total acreage position was approximately 524,700 gross acres in the Permian Basin, and estimated proved oil and natural gas reserves were 1,788,991 thousand barrels of crude oil equivalent.

The company also holds working interests in 5,289 gross producing wells, as well as royalty interests in 6,455 additional wells. In addition, the company owns mineral interests in approximately 930,871 gross acres and 27,027 net royalty acres in the Permian Basin and Eagle Ford Shale, and it owns, operates, develops and acquires midstream infrastructure assets, including 866 miles of crude oil gathering pipelines, natural gas gathering pipelines, and an integrated water system in the Midland and Delaware Basins of the Permian Basin.

Investors receive a 6.16% dividend. Piper Sandler’s $209 target price is well above the $183.70 consensus target. Diamondback Energy stock closed at $142.00 on Monday.

Enbridge

This off-theadar idea based in Canada looks poised to break out to new highs soon. Enbridge Inc. (NYSE: ENB) is an energy infrastructure company that operates through the following five segments.

• The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
• The Gas Transmission and Midstream segment invests in natural gas pipelines and gathering and processing facilities in Canada and the United States.
• The Gas Distribution and Storage segment is involved in natural gas utility operations serving residential, commercial and industrial customers in Ontario, as well as natural gas distribution and energy transportation activities in Quebec.
• The Renewable Power Generation segment operates power-generating assets, such as wind, solar, geothermal and waste heat recovery facilities, and transmission assets in North America and Europe.
• The Energy Services segment provides energy marketing services to refiners, producers and other customers, as well as physical commodity marketing and logistical services in Canada and the United States.

Enbridge stock comes with a 6.43% dividend. In U.S. dollars, the Royal Bank of Canada price target is $48.09. The consensus target is $44.20, and Monday’s close was at $39.92.