The S&P 500 has fallen by close to 5% in the last month, roughly the span of time since the start of the U.S. conflict with Iran, but some stocks have bucked the trend by heading upward during that window. Of course, certain industries -- airlines, for example -- have already been hit particularly hard on the anticipation of service disruptions, increased costs related to energy shortages and price spikes, and so on. But some companies -- including select firms that pay a dividend as an added bonus for investors -- may have further room to run even despite the challenging market conditions.
Investors looking for a potential momentum play that can also provide a passive income boost via distributions could consider names like Crescent Energy Co., Viper Energy Partners LP, and Unum Group.
1. Crescent Energy's Domestic Position Wins Analyst Support
Higher oil prices may be a boon for some energy companies -- the benchmark Energy Select Sector SPDR Fund, which tracks a large segment of the sector, is up by more than 3% in the past month -- but the Iran war does not necessarily guarantee that any given energy firm will thrive. Crescent Energy, a Permian Basin-focused exploration company, is a recent favorite among Wall Street analysts. Since the start of the conflict in Iran, this company has received a ratings upgrade from JPMorgan Chase as well as boosted price targets from Wells Fargo and Piper Sandler, plus additional reiterated Buy or equivalent ratings from other firms.
The renewed interest in Crescent may be due to its advantageous domestic shale operations, which could be essential for U.S. consumers if oil shipments from the Middle East decline. Crescent's fiscal stability and strong geopolitical positioning may be all that it needs to stand out during a particularly tumultuous time.
Any boosts from increased oil costs would be on top of Crescent's recent impressive performance -- in the latest quarter, the company made big strides in boosting production (reaching 268,000 BOE/d) and about $239 million in levered free cash flow. With annual cash flow from the company's new royalties operation expected to be at least $160 million, Crescent is at an essential pivot point that could see it step up and become a larger domestic player. Its dividend yield of about 2.5% is an added benefit and one that gets easier to maintain as cash flow continues to expand.
2. Viper's Royalty Focus Sets it Apart in the Energy Sector
Viper Energy is an energy royalties company, meaning that it does not produce energy products directly but instead holds royalty and mineral fee interests. Viper's area of focus is also the Permian Basin, giving it an advantage over non-domestic companies as well.
Like Crescent, Viper has a number of analyst actions in the last several weeks, including a handful of increased price targets. This brings the company's consensus price target to $52.60, about 15% above current trading levels. While Viper's royalty model may limit its potential to generate returns due to its indirect connection to energy products, it also helps to shield it from operational risks. During a time in which concerns surrounding costs associated with production -- as well as commodity prices themselves -- are in flux, Viper's lower-risk approach may appeal.
Viper's activity over the last year has prepared it especially well for 2026: in 2025, the company acquired some $8 billion in minerals while also improving its balance sheet. The result is a dividend yield that has climbed to 3.3% alongside a major new share repurchase program.
3. Big Growth Possible for an Insurer Separate From the Iran War
Standing out on this list as the sole non-energy company is Unum Group, a life and disability insurer that has benefited from a downward push on financial stocks as a result of the Iran war. In the case of a company like Unum -- fundamentally disconnected from the conflict itself, but still subject to fluctuations in the broader market -- the result is a company that suddenly stands out compared to its broader sector.
Management expects that earnings per share (EPS) and core operations will grow by 8%-12% and 4%-7% year-over-year for 2026. Combined with sustained profitability and shareholder returns -- including a dividend yield of 2.49% and close to two decades of consistent dividend increases -- it becomes clear why analysts favor this company.
That it also has upside potential near 30% is an attractive feature as well, particularly for investors seeking a stock primed for growth and not linked directly to the geopolitical moment.