Analysts Pick Top Dividend Stocks Amid Market Volatility

Investors seeking steady income in a volatile market can consider dividend-paying stocks, particularly those endorsed by top Wall Street analysts. According to TipRanks, a platform that ranks analysts based on their past performance, Phillips 66 (PSX) is one such stock.

The downstream energy company recently reported solid Q2 earnings, driven by refining margins boosted by the Middle East conflict. With a quarterly dividend of $1.27 per share and an annualized yield of 2.25%, PSX offers investors a stable income stream. TD Cowen analyst Jason Gabelman reiterated his buy rating on Phillips 66, citing the company's improved balance sheet and potential for a larger dividend hike.

Crescent Energy (CRGY), another top pick from Wall Street analysts, boasts a quarterly dividend of $0.12 per share and an annualized yield of about 4%. The exploration and production company reported better-than-expected Q2 earnings, with oil production and cash flow exceeding expectations. Evercore analyst Stephen Richardson reaffirmed his buy rating on Crescent Energy, highlighting the company's capital efficiency and solid execution following its acquisition.

Viper Energy (VNOM), effectively controlled by Diamondback Energy, recently announced a 32% hike in its base dividend, indicating a new yield of 4.5%. The company removed its quarterly commitment to return at least 75% of cash available for distribution, allowing it to focus on opportunistic share repurchases and mergers and acquisitions. TD Cowen analyst Aaron Bilkoski reiterated his buy rating on Viper Energy, citing the company's above-average growth profile.