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% dividend yield. The company cut its quarterly dividend for 2016, but it still has a very impressive yield. Right now, Seadrill’s market capitalization is just $361.33 million. The company’s market capitalization used to be north of $3 billion before oil prices started to fall in 2014. If crude prices stay consistently high, drillers like SDLP stand to see their profits increase. Over the last 60 days, our fiscal year earnings consensus estimate has increased, going from $3.47 to $3.68. The company has beaten our EPS consensus in three of the last four quarters. Seadrill’s Zacks Rank #1 (Strong Buy) suggests that it is a favorable candidate with a good chance of beating our EPS consensus when it reports its next quarterly earnings. BP Plc-BP BP is one of the largest petroleum and petrochemical groups. The company engages in the exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and manufacturing and marketing of petrochemicals. BP is a Zacks Rank #3 (Hold), and it doles out a dividend which yields 7.56% for equity investors. Over the last 60 days, two analysts have revised their earnings estimates upwards for this quarter. In the same time span, no analysts have revised their estimates downwards. This has helped to push our EPS consensus higher. Over the last 30 days, our quarterly consensus estimate has moved up, going from -$0.06 to $0.08. In the last month, our fiscal year consensus has improved significantly, moving from an estimate of $0.68 to $1.00. BP beat our earnings consensus by 165.38% when it reported its earnings last quarter. Our consensus estimated earnings of -$0.26, but the company actually reported earnings of $0.17 per share after nonrecurring items. Transocean Partners LLC-RIGP Transocean Partners LLC owns, operates, and acquires technologically advanced offshore drilling rigs. The company is a ZacksRank #1 (Strong Buy), and it has a 12.39% dividend yield. The drilling corporation’s share price is down over 50% since its IPO in August of 2014. Transocean’s market cap is about $754 million, which is a far cry from what it was once valued at. If oil continues to trend higher, Transocean’s earnings outlook could look very bullish. Over the last two months, our quarterly earnings consensus has gone from $0.44 to $0.51. Our fiscal year consensus has gone up as well, going from $1.69 to $1.97 over the last 60 days. Transocean is expected to release its next quarterly earnings report in early August. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GOLDMAN SACHS (GS): Free Stock Analysis Report TRANSOCEAN PTN (RIGP): Free Stock Analysis Report BP PLC (BP): Free Stock Analysis Report SEADRILL PTNRS (SDLP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research