Billionaire investor Steve Cohen is betting big on these 2 high-yield dividend stocks

Running a hedge fund is not easy. Steve Cohen, however, does it perfectly and is one of the true leaders in his field. He personally oversees Point72 Asset Management, a $26 billion hedge fund company. Here are 2 dividend stocks that Cohen has been buying into the portfolio recently.

Steve Cohen

EOG Resources $EOG+0.6%

EOG Resources is an oil and gas producer with acreage in several U.S. shale plays, including the Permian Basin, Eagle Ford and Bakken. It has reported net proved reserves of 3.7 billion barrels of oil equivalent at the end of 2021. Net production averaged 829 thousand barrels of oil equivalent per day in 2021 at a ratio of 72% oil and 28% natural gas. Along with Exxon Mobil Corporation, ConocoPhillips, and Chevron Corporation, EOG Resources is one of the best safe energy stocks to hold for the long term.

Five-year price chart of EOG stock, Source: Google Finance

The company posted top-line revenue of $7.6 billion for 3Q22, up an impressive 58% year-over-year. The company's adjusted net income rose to $2.2 billion, up 69% YoY, and adjusted earnings per share at $3.71 rose 71% over the prior-year quarter. Free cash flow was reported at $2.3 billion. These numbers reflected a combination of rising pandemic demand in 2022, high oil and gas prices, and increased production.

EOG Resources is firmly committed to returning capital to shareholders. On the dividend front, EOG declared regular and special payouts in Q3. The regular common stock dividend was set at 82.5 cents per share, or $3.30 per year, for a yield of 2.58%. However, the additional dividend was $1.50 per common share. Therefore, if the company had paid this additional dividend in subsequent quarters, the total dividend yield would have been 7.3%.

This hydrocarbon company was clearly attractive to Steve Cohen, who bought 1,174,838 shares in the third quarter. This is a new and significant position for his company. At current share prices, the stake is worth over $165 million.

Annual price target for EOG stock, Source.

EOG stock is followed by 21 analysts. 18 of them have buy recommendations on the stock and only 2 have hold recommendations. The stock has a consensus rating of Strong Buy and an average target price of $157.45, up 23.68% from the recent price of $127.3.

Healthcare Realty Trust $HR+1.2%

Healthcare Realty Trust is a real estate investment trust. The company focuses on owning, leasing and managing outpatient facilities and other healthcare real estate. The company considers investing in mergers and acquisitions as part of its operational growth strategy. It works with developers that have strong ties to the local healthcare system and physicians. The Company seeks to invest in outpatient facilities that are integral to hospital operations. It generates all of its revenue in the United States.

HR stock is down nearly 40% over five years, Source.

On November 9, HR reported results for the third quarter ended September 30, 2022. The company reported net income attributable to common shareholders of $28.3 million, or $0.08 per diluted common share, for the quarter ended September 30, 2022. Normalized funds from operations (FFO) for the three months ended September 30, 2022 was $129.4 million, or $0.39 per diluted common share. FFO is important to dividend investors because it is the metric on which the payment is based.

HR declared a dividend of 31 cents per common share with its 3Q22 results and paid it on November 30. At the current payment, the dividend is $1.24 per share and gives a yield of 6.1%.

Steve Cohen showed that he was impressed with HR's attributes, thanks to a large buy-in. His firm acquired 800,200 shares of HR, creating an initial position that is now worth $16.24 million.

Annual price target for HR stock, Source: TipRanks

HR stock is followed by 4 analysts, of which 2 have a buy recommendation and 2 have a hold recommendation. This adds up to a consensus analyst consensus of a moderate buy. Shares in HR are currently trading at $19.74 and the average price target of $24.25 implies a 22.85% upside from this level by the end of next year.

Source: Yahoo Finance, Everything money, TipRanks, Forbes

DISCLAIMER: All information provided here is for informational purposes only and is in no way an investment recommendation. Always do your own analysis.

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This hydrocarbon company was clearly attractive to Steve Cohen, who bought 1,174,838 shares in the third quarter. This is a new and significant position for his company. At current share prices, the stake is worth over $165 million.

HR stock is followed by 4 analysts, of which 2 have a buy recommendation and 2 have a hold recommendation. This adds up to a consensus analyst consensus of a moderate buy. Shares in HR are currently trading at $19.74 and the average price target of $24.25 implies a 22.85% upside from this level by the end of next year.

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waiting for even better

how i'am choosing a classy broker?

Çoğunuz hisse senetlerine, bonolara, ETS'ye veya MF'lere yatırım yapmadığımı biliyorsunuz. Lütfen bundan sonra söyleyeceğim şeyi DİNLEMEYİN: "Kağıt varlıklardan kurtulurdum." Dünya ekonomisi bir “Pazar” değildir. Ekonominin dünya tarihindeki en büyük balon olduğuna inanıyorum. Allah hepimize merhamet etsin.rftretf

EOG Resources is firmly committed to returning capital to shareholders!

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