In this article, we are going to discuss the 13 oil stocks with highest dividends.

The Brent crude oil price soared past the $110 per barrel mark on March 18, its highest level since Russia invaded Ukraine in 2022. The rally was extended following a fresh wave of attacks on key energy infrastructure in the Middle East, further raising concerns of oil and gas supply disruptions.

The fresh escalation was triggered after Israel struck facilities belonging to the world’s largest natural gas field in Iran. Tehran then responded by threatening to attack energy infrastructure across the Gulf region, and even striking a key LNG facility in Qatar. Iran also continues to choke energy supply through the Strait of Hormuz, and has already warned the world to prepare for oil at $200 per barrel.

The unchecked jump in prices is a serious cause of concern around the world. According to Morgan Stanley, if oil exceeds the $125 per barrel mark, it would represent a fundamental shift in the global economic outlook, forcing markets to dramatically constrain demand to match the reduced supply. The Federal Reserve chair Jerome Powell has also warned that the Iran crisis will worsen inflation in the United States.

That said, at the same time, the soaring oil prices have come as a boon for the Western oil companies, providing a much-needed financial cushion after 2025 ended on a low note. As a result, several oil majors, including Exxon and Chevron, are currently hovering around their all-time highs.

With that said, here are the Oil Stocks with the Highest Dividends to Buy Now.

Our Methodology

To collect data for this article, we referred to several stock screeners to find oil stocks with an annual dividend yield of over 4%. The list covers companies operating across the oil and gas value chain, from exploration and production to refining, transportation, and marketing. In one way or another, all of these stocks have exposure to the oil market. We then limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. The following are the Oil Stocks with the Highest Dividends in 2026.

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. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).

13. Equinor ASA (NYSE:EQNR)

Dividend Yield as of March 18: 4.06%

Equinor ASA (NYSE:EQNR) is an international energy company headquartered in Norway, with over 25,000 employees in around 20 countries worldwide.

Equinor ASA (NYSE:EQNR) announced on March 18 that it had made ​a new oil ​discovery in the ⁠Norwegian part ​of the Arctic ​Barents Sea, in a prospect close to the giant Johan Castberg field. The preliminary volume estimate for the discovery is between 14 and 24 million barrels of recoverable oil equivalents. Equinor, and its partners Var Energi and Petoro, are now planning to tie the discovery back to the Johan Castberg field.

Equinor ASA (NYSE:EQNR) started production at Johan Castberg in Q1 2025, with the project hitting full capacity of 220,000 bpd last summer. The volume basis in the project was originally estimated at 500–700 million barrels, with Equinor to increase this by an additional 200–500 million barrels.

Grete Birgitte Haaland, area director for Exploration and Production North at Equinor ASA (NYSE:EQNR), commented:

“With Johan Castberg, we opened a new oil province in the Barents Sea one year ago. It is encouraging that we are now making new discoveries in the area. We plan to drill one to two exploration wells annually in this region going forward to increase the resource base and maintain plateau production for a longer period.”

The discoveries come as Equinor ASA (NYSE:EQNR) is targeting to grow its output by 3% in 2026, after already hitting a record high production level in 2025.

12. Chord Energy Corporation (NASDAQ:CHRD)

Dividend Yield as of March 18: 4.09%

With its premier acreage position in the Williston Basin, Chord Energy Corporation (NASDAQ:CHRD) engages in the exploration and production of crude oil, natural gas liquids, and natural gas.

Chord Energy Corporation (NASDAQ:CHRD) received a boost on March 17 when Mizuho raised its price target on the stock from $148 to $162, while keeping an ‘Outperform’ rating on the shares. The increased target reflects an upside potential of around 27% from the current share price.

The move comes after Mizuho bumped its 2026 oil price outlook by 14% to $73.25 per barrel as the US-Iran war entered its third week. Tehran’s forced closure of the Strait of Hormuz has effectively choked around a fifth of the global crude oil supply, driving up prices. While it is still too early to determine whether the war will increase the structural price of global oil, the analyst believes that the bias is likely higher.

Chord Energy Corporation (NASDAQ:CHRD) boasts a robust annual dividend yield of 4.09%, putting it among the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.