Top US Dividend Stocks To Consider In October 2024

As the U.S. stock market steadies following a recent selloff, major indexes like the Dow Jones Industrial Average and Nasdaq Composite have inched higher, reflecting cautious optimism amid ongoing economic developments and geopolitical tensions. In this environment, dividend stocks can offer investors a measure of stability and income potential, making them an attractive consideration for those looking to navigate uncertain market conditions while benefiting from regular payouts.

Top 10 Dividend Stocks In The United States

Click here to see the full list of 181 stocks from our Top US Dividend Stocks screener.

Here's a peek at a few of the choices from the screener.

Coterra Energy (NYSE:CTRA)

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Coterra Energy Inc. is an independent oil and gas company focused on the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States with a market cap of approximately $17.85 billion.

Operations: Coterra Energy Inc. generates revenue primarily from its natural gas and oil development, exploitation, exploration, and production activities in the United States, amounting to $5.57 billion.

Dividend Yield: 3.4%

Coterra Energy's dividend payments are well-covered by earnings and cash flows, with payout ratios of 47% and 63.7%, respectively. However, its dividend yield of 3.43% is lower than the top quartile in the U.S. market, and its dividend history has been volatile over the past decade. Recent financial adjustments include an increased credit facility to $2 billion and a buyback completion totaling $706.47 million, reflecting strategic capital management efforts amidst fluctuating profit margins and production levels.

• Delve into the full analysis dividend report here for a deeper understanding of Coterra Energy.
• According our valuation report, there's an indication that Coterra Energy's share price might be on the cheaper side.

Chevron (NYSE:CVX)

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Chevron Corporation operates in integrated energy and chemicals sectors both in the United States and internationally, with a market cap of $273.79 billion.

Operations: Chevron Corporation's revenue is primarily derived from its Upstream operations in the United States ($44.19 billion) and internationally ($43.74 billion), as well as its Downstream operations in the United States ($85.64 billion) and internationally ($78.31 billion).

Dividend Yield: 4.3%

Chevron's dividend yield of 4.32% is slightly below the top quartile in the U.S. market, yet its dividends have been stable and growing over the past decade, supported by a payout ratio of 62.1%. Despite recent lower profit margins, Chevron's strategic moves include a collaboration with Honeywell for AI solutions to enhance refining efficiency and safety, alongside ongoing deepwater projects in the Gulf of Mexico aimed at boosting oil recovery.

• Click here to discover the nuances of Chevron with our detailed analytical dividend report.
• The analysis detailed in our Chevron valuation report hints at an deflated share price compared to its estimated value.

Exxon Mobil (NYSE:XOM)

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Exxon Mobil Corporation is involved in the exploration and production of crude oil and natural gas both in the United States and internationally, with a market cap of approximately $532.83 billion.

Operations: Exxon Mobil's revenue segments include Chemical operations in the United States ($16.27 billion) and internationally ($18.12 billion), Upstream activities domestically ($36.48 billion) and abroad ($55.99 billion), Energy Products within the U.S. ($130.09 billion) and outside the U.S. ($195.47 billion), as well as Specialty Products in the United States ($8.44 billion) and internationally ($12.85 billion).

Dividend Yield: 3.1%

Exxon Mobil's dividend yield of 3.13% is lower than the top quartile in the U.S. market, yet its dividends have been stable and increasing over the past decade, with a payout ratio of 45% supported by earnings and cash flows. Recent developments include a $816 million legal setback and potential asset sales in the Permian Basin to focus on shale production after acquiring Pioneer Natural Resources, alongside strategic discussions for low carbon projects with Mitsubishi Corporation.

• Get an in-depth perspective on Exxon Mobil's performance by reading our dividend report here.
• Insights from our recent valuation report point to the potential undervaluation of Exxon Mobil shares in the market.

Turning Ideas Into Actions

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Curious About Other Options?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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