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As Crude Surges: 3 Great Oil Stocks With Massive Dividends

Brent crude futures almost hit $50 today, reaching levels that haven’t been seen since early November. The commodity reached a six-month high, thanks to supply outages in Nigeria and Venezuela.

Goldman Sachs GS has become known for its very bearish outlook on oil in recent history. At one point, the firm warned that global storage was reaching its limits, and even said that oil could crash down to $20 per barrel. The bank's position has since changed, and Goldman now thinks that the supply of oil will shift into a deficit in May. If this happens, the commodity could continue to climb higher.

Because of the beat down of crude, many oil stocks are selling at cheaper prices. This opportunity may be especially hard to pass on because of the fact that oil companies are known for giving out high dividend yields. As oil companies have seen their share prices dwindle, their dividend yields look especially attractive right now.

Remember, dividend yields are related to share price, so if a stock’s price goes down while the dividend stays the same, the yield increases. If the turnaround for the commodity continues, you should consider these oil stocks which give out considerable dividends and have yields north of 7%.

Seadrill Partners LLC-SDLP

Seadrill Partners owns, operates, and acquires offshore drilling rigs. The stock has a Zacks Rank #1 (Strong Buy), and it doles out a massive 20.83%...