5 High Yield Crude Oil Stocks to Buy Now

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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 (NYSE:PBR) 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 (NYSE:PBR) ​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 (NYSE:PBR) 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 (NYSE:PBR) was also recently included in our list of the 8 Best Natural Resources Stocks to Buy Now.

While we acknowledge the potential of PBR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PBR and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 Best Renewable Energy Stocks to Buy According to Billionaires and 14 Best Oil and Gas Stocks to Buy According to Hedge Funds

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