5 Dogs of the S&P 500

In this article, we discuss 5 dogs of the S&P 500. If you want to read our detailed analysis of the ‘Dogs of the S&P 500’ strategy and dividend stocks, go directly to read Dogs of the S&P 500. 

5. Diamondback Energy, Inc. (NASDAQ:FANG)

Dividend Yield as of June 22: 7.67%

Diamondback Energy, Inc. (NASDAQ:FANG) is a Texas-based energy company that is engaged in the exploration of hydrocarbon. In April, Goldman Sachs raised its price target on the stock to $163 with a Buy rating on the shares, highlighting the company’s performance.

Diamondback Energy, Inc. (NASDAQ:FANG) started its dividend policy in 2018 and currently pays a quarterly dividend of $0.80 per share. With a dividend yield of 7.67%, it is one of the top dogs of the S&P 500 stocks on our list.

As of the close of Q1 2023, 45 hedge funds tracked by Insider Monkey reported having stakes in Diamondback Energy, Inc. (NASDAQ:FANG), compared with 52 in the previous quarter. These stakes have a consolidated value of over $1.1 billion.