With crude prices currently in the triple digits, oil stocks are paying a gusher of dividends to their investors. Devon Energy (NYSE: DVN) launched the industry's fixed plus variable dividend trend last year after closing its merger of equals with WPX Energy. It set its base dividend payment at $0.11 per share each quarter, a level it could sustain at lower oil prices.
Marathon Oil (MRO) spent $348 million in capital and exploratory expenditures during the quarter and raked in $940 million of free cash flow.
Pioneer Natural Resources (PXD) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.