Some Energy Stocks offer pretty good dividends. Here’s a few: $XOM $DVN $EOG $CHK $CNQ – November 15, 2022XLE XOM DVN EOG CHK CNQ
This is Scott with your Chart of the Day. One of the areas that we are still focused on over at Stock Market Mentor is the energy sector this is XLE ( NYSEARCA: XLE ). I know that inflation is coming down and so gas prices should be coming down but energy, as you can see from the chart, is still near the highs.
Now, one thesis I have for why this is because of dividends. A lot of these oil and gas stocks actually pay pretty juicy “divis”, like XOM ( NYSE: XOM ), this one pays 3 percent, which is not bad. DVN ( NYSE: DVN ), this one pays 8 percent. EOG ( NYSE: EOG ), this one pays 6 percent. CHK, Chesapeake ( NASDAQ: CHK ), this one pays 9 percent. And Canadian Natural Resources ( NYSE: CNQ ), this one pays 11 percent.
And so, while oil and gas may be slowing in terms of momentum, one of my thoughts is, that a lot of people who are long this aren’t really eager to sell because they are getting that juicy dividend. So if you have a lack of selling pressure, any geopolitical headline could potentially really start to make these stocks move higher.
And so we are still watching the energy sector, and I definitely think it is something you should keep an eye on as well.