Lesser-known dividend oil companies that can provide you with fat passive income
Exxon and Chevron are undoubtedly quality companies. But everyone knows them. And that's just it - they may well not be hiding the opportunity that many other, smaller companies are. And we'll look at 4 of them here.
Phillips 66 $PSX
Phillips 66 is an American energy company that refines crude oil, retails gasoline under the Phillips 66, 76 and Conoco brands. It owns 7,300 gas stations, four refineries, is involved in crude oil processing and transportation, and produces chemicals.
It has revenues of $175 billion and net income of $5 billion. Shares have risen 33% since 2020, especially in 2021. The company plans to grow through acquisitions in the refining and transportation of crude oil.
Phillips 66 counts airlines, automotive, petrochemical, and construction among its customers. Analysts are recommending the stock in part because of the high dividend of over 4%.
PSX's Frac-4 technology came online in the fourth quarter of last year, and the price of natural gas - the primary feedstock…
Great article. I confess I don't know either company. More material to explore. I don't know what to do first. :D I only hold $OXY in this sector but it doesn't have that kind of divi.
Hess was one of the first stocks in my portfolio. I was interested in it then as part of a huge diversification in terms of scope. The business is in onshore (US), Gulf of Mexico, North Sea and also offshore Guyana. I will continue to hold contentedly.