5 Extreme Dividend Stocks With Upside Potential

This article presents an overview of the 5 Extreme Dividend Stocks With Upside Potential. For a detailed overview of such stocks, read our article, 12 Extreme Dividend Stocks With Upside Potential.

5. Equinor ASA (NYSE:EQNR)

Number of Hedge Fund Investors: 14

Energy company Equinor ASA (NYSE:EQNR) has a dividend yield of over 11%. The stock’s price target according to data compiled by Yahoo Finance is $36.10.

A total of 14 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Equinor ASA (NYSE:EQNR). The most significant stakeholder of Equinor ASA (NYSE:EQNR) during this period was Brandon Haley’s Holocene Advisors which owns a $14 million stake in Equinor ASA (NYSE:EQNR).

Equinor ASA (NYSE:EQNR) in Q3 earnings call talked about its dividends and buybacks:

We continue with strong capital distribution, in line with what we communicated at our Capital Markets update. For the quarter, the Board approved an ordinary cash dividend of $0.30 per share as well as continuing the extraordinary dividend of $0.60 per share, for a total of $0.90 in cash dividend.

We continue our share buyback program. The fourth and final tranche will be $1.67 billion in line with our program for 2023 of total $6 billion. For this year, we are delivering a total capital distribution of around $17 billion. Then turning to safety. In August, there was a fatality of a crew member who fell overboard on an LNG tanker in Malaysia. The vessel was in operation for Equinor and the tragic incident is affecting everyone involved. So, this is a strong reminder that even with a positive safety trend, we must keep focusing on safety in all our activities. Safety will remain our top priority. In the quarter, we produced 2,007,000 barrels of oil and gas per day. And as you see on the slide, this is essentially more oil, but less gas than in the third quarter last year.

Read the entire earnings call transcript here.