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.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
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 (NYSE:PR) 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. (NASDAQ:PTEN) 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. (NASDAQ:PTEN) from $14 to $15 on May 29. The firm also maintained its ‘Outperform’ rating on the stock.
