Don't Miss These 3 Energy Stocks With Over 3% Dividend Yields From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Analysts with high accuracy rates have provided updates on three energy stocks with over 3% dividend yields: Phillips 66 (PSX), EOG Resources (EOG), and Valero Energy Corporation (VLO). PSX is in talks to sell non-core assets, EOG indicates U.S. oil and gas production growth may slow, and VLO reported a Q3 revenue decline but still saw a price target increase from one analyst.
January 10, 2024 | 12:35 pm
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NEUTRAL IMPACT
EOG Resources has a dividend yield of 3.14%. Despite a downgrade from B of A Securities, Raymond James maintains a Strong Buy rating, albeit with a reduced price target.
The mixed analyst ratings with a downgrade and a reduced price target may create uncertainty, leading to a neutral short-term impact on the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Phillips 66 has a dividend yield of 3.15% and is in discussions to sell non-core assets. Analysts from Raymond James and TD Cowen have raised their price targets, signaling confidence in the stock.
The sale of non-core assets could improve Phillips 66's financials, and the raised price targets from analysts suggest a positive outlook, potentially leading to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Valero Energy has a dividend yield of 3.21%. Despite a Q3 revenue decline, analysts from Raymond James and Piper Sandler have provided positive ratings and price targets.
The positive ratings and price target adjustments from analysts suggest confidence in Valero Energy's future performance, which could lead to a short-term price increase.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85