Transocean (NYSE: RIG ) , the offshore driller, made a splash during its earnings release by reinstating its dividend program at $2.24 per share on an annual basis. Considering that activist investor Carl Icahn made it known that he felt the company should release cash to investors, this should come as no surprise. While it wasn't the amount Icahn was looking for, it is no doubt a welcome sight for investors in the company. Transocean's dividend reinstatement follows the dividend news of several other energy service companies this quarter, and there could be a few more stories on the way. To see which company Motley Fool analyst Taylor Muckerman has his eyes on, check out the video below.
Whose dividend hike could be on deck?
National Oilwell Varco is perhaps the safest investment in the energy sector due to its industry-leading 60% market share. This company is poised to profit in a big way; its customers are both increasing the number of new drilling rigs as well as updating an aging fleet of offshore rigs. To help determine if NOV is a nice fit for your portfolio, check out our premium research report with in-depth analysis on whether NOV is a buy today. For instant access to this valuable investor's resource, simply click here now and claim your copy today.