For Immediate Release
Chicago, IL – December 1, 2022 – Today, Zacks Investment Ideas feature highlights ConocoPhillips COP, Atmos Energy Corp. ATO and EOG Resources, Inc. EOG.
These 3 Stocks Have Recently Hiked Their Dividends
A common approach by investors is to target dividend-paying stocks.
After all, it's easy to see why; dividends provide a passive income stream, cushion impacts from drawdowns in other positions, and provide the ability to achieve maximum returns through dividend reinvestment.
And in a historically-volatile 2022, it goes without saying that dividends have been a precious item for investors.
Just recently, several large-cap stocks have upped their dividend payouts, undoubtedly boosting shareholders' confidence in a big way.
Three large-cap stocks – ConocoPhillips, Atmos Energy Corp. and EOG Resources, Inc.– have all recently hiked their dividend payouts.
All three stocks have witnessed positive momentum in 2022, outperforming the S&P 500 by wide margins.
Let's take a closer look at each one.
ConocoPhillips is one of the world's largest independent E&P companies based on production and proved reserves.
In its Q3 report, the company upped its quarterly dividend by 11% to $0.51 per share and announced a variable return of cash of $0.70 per share, payable on Jan. 13th, 2023, to stockholders of record at the close of business on Dec. 27th, 2022.
Further, COP reported quarterly free cash flow of $6.6 billion in Q3, representing a 61% Y/Y increase. As we can see in the chart below, the company's free cash flow has recovered nicely from 2020 lows.
Atmos Energy Corp.
Atmos Energy Corporation is the nation's largest fully regulated, natural gas-only distributor of safe, clean, efficient, and affordable energy.
In its latest earnings release, the company's Board of Directors declared a quarterly dividend increase of roughly 9% on its common stock to $0.74 per share, payable on Dec. 12th, 2022, to shareholders on record as of Nov. 28th, 2022.
EOG Resources is primarily involved in exploring and producing oil and natural gas. The leading upstream energy player's operations are spread across the United States, Trinidad, and other international segments.
In the company's Q3 earnings release, it declared a 10% raise on its quarterly dividend, bringing the payout to $0.82 per share. Further, the company declared a special dividend of $1.50 per share, payable on December 30th, 2022, to shareholders of record as of December 15th, 2022.
EOG Resources' free cash flow came in at $3.6 billion in Q3, reflecting a 180% Y/Y uptick and an impressive 400% sequential increase. Similar to COP, the company's free cash flow has recovered nicely from 2020 lows.
Investors love dividends. After all, having financial assets that pay you is undoubtedly a sweet feeling.
In a historically-volatile 2022, dividends have quickly become a hot topic, and for understandable reasons – they cushion drawdowns in other positions and provide a reliable income stream.
All three stocks above – ConocoPhillips, Atmos Energy Corp. and EOG Resources – have all recently hiked their dividend payouts, providing investors with much-needed confidence surrounding their profitability and growth.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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