In this article, we are going to discuss the 10 high yield crude oil stocks to buy now.
Oil stocks are known for their high and regular dividends, thanks to their strong free cash flows and healthy balance sheets. The industry received a significant boost in the first quarter of 2026, driven primarily by the soaring oil prices amid the Middle East war. Moreover, the global supply disruptions caused a massive spike in refining crack spreads, causing the US refining margins to soar by an average of around 73% YoY during the quarter.
As a result, 38 of the 40 upstream companies in the S&P 500 ended Q1 in positive territory, while the Big Three refiners also averaged 48.6% returns. At the same time, the midstream sector was led by tanker stocks, which achieved gains of over 45%.
While the fragile ceasefire between the warring parties still remains intact, it has repeatedly been threatened by an exchange of strikes over the last few days. As a result, Brent crude prices are still hovering around $94 per barrel, far above the average mark of $69 per barrel seen in 2025.
Moreover, analysts expect the soaring oil prices to remain firm even if the war heads towards a resolution, as it will take quite some time for the trade flows through Hormuz to reach pre-crisis levels.
According to JP Morgan’s base case scenario, a June reopening of the waterway of Hormuz would keep Brent oil price at around $100 per barrel for the rest of the ongoing year. The firm is forecasting that a longer-lasting closure would add about $5 in the third quarter and $15 in the fourth quarter, due to the faster depletion of stocks.
With that said, here are the Best Crude Oil Stocks for High Dividends.
Our Methodology
To collect data for this article, we referred to screeners to identify crude oil stocks that had an annual dividend yield of over 3%, as of June 8. We then limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. The following are the Best Oil Stocks to Buy for Dividends.
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10. Permian Resources Corporation (NYSE:PR)
Dividend Yield as of June 8: 3.16%
Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company with operations focused in the Permian Basin of the United States.
On May 27, Mizuho analyst William Janela boosted the firm’s price target on Permian Resources Corporation from $26 to $27, while maintaining an ‘Outperform’ rating on the shares. The revised target reflects an upside of almost 41% from the current price level.
Mizuho expects the ongoing Middle East war to have a lasting impact on global oil prices and refining margins. As a result, the firm raised its oil price outlook for 2026 and 2027 by 25% and 6%, respectively. Similarly, the analyst also significantly increased its outlook for US refining cracks by 61% and 51%.
According to Mizuho, a pullback in energy stock valuations, despite the strong commodity prices, would give investors an opportunity to seek “alpha” within the US oil sector. The analyst firm revised its ratings and price targets across the group.
9. Patterson-UTI Energy, Inc. (NASDAQ:PTEN)
Dividend Yield as of June 8: 3.32%
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is a leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries.
On June 4, Goldman Sachs trimmed its price target on Patterson-UTI Energy, Inc. from $23 to $13, but kept its ‘Buy’ rating on the shares. The lowered target still reflects an upside potential of over 21% from the current price level.
Goldman Sachs highlighted Patterson-UTI’s recently increased second-quarter guidance, driven by the increased demand and higher pricing, which is an attractive way for investors to gain exposure to the North American energy market. According to the analyst, the new price target comes on the back of increased EBITDA estimates, reflecting the expectations for higher activity and improved pricing across drilling and pressure pumping in North America.
On the other hand, RBC Capital slightly raised its price target on Patterson-UTI Energy, Inc. from $14 to $15 on May 29. The firm also maintained its ‘Outperform’ rating on the stock.
8. Murphy Oil Corporation (NYSE:MUR)
Dividend Yield as of June 8: 3.48%
Murphy Oil Corporation (NYSE:MUR) is a global independent oil and natural gas exploration and production company.
On June 4, KeyBanc upgraded Murphy Oil Corporation from ‘Sector Weight’ to ‘Overweight’ and assigned the stock a price target of $48, representing an upside of over 24% from the current levels.
According to the analyst, the upgrade was driven by Murphy’s “profound cash flow uplift” from unhedged oil exposure, which is a “game changer for balance sheet and cash return optionality.” The company presents a significant exposure to the soaring crude prices, as around 50% of its 2026 output is oil and none of it is hedged. The $20 per barrel boost in KeyBanc’s oil price deck creates an additional $666 million in cash flows for Murphy, all else equal.
Moreover, Murphy Oil confirmed a significant oil discovery offshore Vietnam earlier this year, and Keybanc believes that the company offers “idiosyncratic” Vietnam catalysts. The firm noted that the recent pullback in the stock offers an attractive entry point for investors.
7. Chevron Corporation (NYSE:CVX)
Dividend Yield as of June 8: 3.76%
Next on our list of the Best Oil Stocks for Dividends is Chevron Corporation (NYSE:CVX). The company manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives.
Chevron Corporation has raised its dividend for 39 consecutive years, granting it the coveted title of a Dividend Aristocrat. The company maintained its strong commitment to shareholders even through multiple commodity downturns, including the oil market collapse in 2020, as its business has been designed to comfortably cover the payout even at crude prices below $50 per barrel.
To sustain its high distributions, Chevron Corporation expects to grow its free cash flow at a CAGR of more than 10% through 2030 at $70 oil. A significant catalyst to support this growth is the Tengizchevroil expansion in Kazakhstan, which is expected to add around $6 billion to the company’s annual free cash flow.
Chevron also revealed in its Q1 report last month that it remains on track to achieve its $3 to $4 billion structural cost reduction target by year-end. The program will help lower the oil and gas giant’s breakeven point even further and enhance profitability across cycles.
6. Equinor ASA (NYSE:EQNR)
Dividend Yield as of June 8: 4.05%
Equinor ASA (NYSE:EQNR) is an international energy company headquartered in Norway, with over 25,000 employees in around 20 countries worldwide.
On June 5, TD Cowen analyst Jason Gabelman raised the firm’s price target on Equinor ASA from $40 to $42, while maintaining a ‘Hold’ rating on the shares. The target boost reflects an upside of 12% from the current levels.
TD Cowen has high expectations for Equinor’s upcoming Capital Markets Day on June 16. The analyst is projecting the company to raise its buyback program from $1.5 billion to $4 billion for 2026, with a potential for a buyback guide also for 2027.
The optimism comes after the Norwegian energy giant delivered its highest production ever of more than 2.3 million barrels per day in the first quarter, up 9% from the same period last year. The high production, coupled with the soaring prices, allowed the company to deliver an adjusted operating income of $9.8 billion and net income of $3.1 billion.
In February, Equinor ASA guided towards a cash flow from operations of $16 billion after tax in 2026. However, the company revealed in May that this number could be around $8 billion higher, assuming that Brent averages $85 per barrel and European gas prices of $13 per MBtu this year.
5. Ecopetrol S.A. (NYSE:EC)
Dividend Yield as of June 8: 4.23%
With a workforce of over 18,000, Ecopetrol S.A. (NYSE:EC) is among the largest companies in Colombia and one of the leading integrated energy groups on the American continent.
On June 4, Citi analyst Andres Cardona downgraded Ecopetrol S.A. from ‘Buy’ to ‘Neutral’, but raised the firm’s price target on the stock from $14 to $18. The target boost indicates an upside of almost 19% from the current levels.
The downgrade is primarily driven by valuation concerns, as Ecopetrol S.A. has surged by over 48% since the beginning of 2026. The analyst firm attributed the rally to the soaring oil prices and optimism regarding Colombia’s upcoming elections.
Moreover, Citi sees “significant” for EC if the bear case plays out. The firm believes that Colombia’s oil and gas output will eventually decline, significantly impacting the country’s energy trade balance and Ecopetrol’s cash flow outlook.
If such a scenario plays out, the analyst expects the stock to trade at around $10/ADR even in a relatively high oil price environment.
4. BP p.l.c. (NYSE:BP)
Dividend Yield as of June 8: 4.56%
BP p.l.c. (NYSE:BP) is a British multinational company recognized worldwide for quality gasoline, transport fuels, chemicals, and alternative sources of energy such as wind and biofuels.
BP p.l.c. (NYSE:BP) announced on June 1 that it had commenced commercial production of non-associated gas at the Azeri-Chirag-Gunashli (ACG) field off the coast of Azerbaijan. Moreover, the British energy giant also revealed that it is looking to expand its regional footprint by preparing to take over as the operator of the massive offshore Babek gas field.
ACG is one of the largest oil-producing fields in the world, and it is believed to contain significant NAG resources, with an estimated 4 trillion cubic feet of recoverable reserves and a potential upside to 6 trillion cubic feet. The initial non-associated gas well is a critical first step in unlocking this potential. BP operates ACG with a 30.37% stake in the field.
Gas extracted from the field will be exported to Europe, and marks an important step in Azerbaijan’s efforts of becoming a crucial strategic energy partner for the European Union. The country currently supplies around 5% of the bloc’s total gas demand.
3. TotalEnergies SE (NYSE:TTE)
Dividend Yield as of June 8: 4.76%
TotalEnergies SE (NYSE:TTE) is a global integrated energy company that produces and markets energies.
A Bloomberg report on June 3 revealed that the Russian President Vladimir Putin has approved the sale of TotalEnergies’ 10% stake in the US-sanctioned Arctic LNG 2 project. The $21 billion project was sanctioned in late 2023 in an effort to curb the Kremlin’s ability to expand its LNG exports, prompting the French energy major to declare force majeure on LNG offtake contracts in 2024.
However, the facility began shipping the super-chilled fuel via Russia’s shadow fleet vessels and has slowly ramped up production. If completed, Total’s stake will be transferred to a company called Nordline LLC, consolidating Russia’s hold over its largest LNG export project by capacity. However, despite the sale, TotalEnergies will still retain indirect exposure to Arctic LNG 2 through its stake in Novatek.
While TotalEnergies SE declined to issue a comment on the sale, it marks a rare approval by the Putin administration to allow a company to exit a project strangled by Western restrictions.
2. Viper Energy, Inc. (NASDAQ:VNOM)
Dividend Yield as of June 8: 4.92%
Viper Energy, Inc. (NASDAQ:VNOM) is a publicly traded Delaware corporation focused on owning and acquiring mineral and royalty interests, primarily in the Permian Basin.
On May 29, RBC Capital analyst Scott Hanold initiated coverage of Viper Energy, Inc. with an ‘Outperform rating and a price target of $58, indicating an upside of over 25% from the current price level.
RBC highlighted Viper Energy’s competitive advantages, including its scale, its core focus on the prolific Permian basin, the high duration of its inventory, and strong alignment with its operating partner. The analyst firm also noted that Viper’s relationship with Diamondback Energy further bolsters the company’s line-of-site activity and future growth prospects.
The bullish analyst sentiment comes after Viper Energy, Inc. Crushed Wall Street Estimates in the First Quarter. Notably, the company also raised the midpoint of its FY oil production guidance by around 2.5%, driven primarily by Diamondback’s increased near-term activity and continued development of Viper’s high concentration royalty interest. The raised output forecasts indicate an organic growth of over 5% relative to the company’s pro forma 2025 exit rate.
1. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)
Dividend Yield as of June 8: 6.49%
Topping our list of the Best Crude Oil Stocks for Dividends is Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR), one of the largest oil and gas producers in the world. The Brazilian company is mainly dedicated to exploration and production, refining, energy generation, and marketing.
On June 3, JPMorgan lowered its price target on Petróleo Brasileiro S.A. – Petrobras from $24 to $23, but maintained its ‘Overweight’ rating on the shares. The trimmed target, which still indicates an upside of almost 30% from the current levels, comes after the analyst firm updated the company’s model.
Petróleo Brasileiro S.A. – Petrobras reported a drop in profits and fell behind expectations in its Q1 report last month, as the impact of higher oil prices from the US-Iran had yet to flow through to results. The company expects to feel this impact starting in the second quarter.
The Q1 report also indicated that Petróleo Brasileiro S.A. – Petrobras has become increasingly reliant on its exports to generate revenue. While revenue from exports surged by 28.3% YoY during the first quarter, the Brazilian oil giant’s revenue from sales in its home country fell by 9.4%.
Petróleo Brasileiro S.A. – Petrobras was also recently included in our list of the 8 Best Natural Resources Stocks to Buy Now.
