Only one sector is up this month. If you guessed it is energy, you are spot on. With oil and natural gas prices already rising for the past year for a number of reasons, not the least of which has been scaled-back production, a fly in the ointment now could result in a parabolic move. With the Russians mobilizing troops to the border of Ukraine, there is a real fear that hostilities could break out.

While the situation is still uncertain, make no mistake, should fighting breakout, exports from the United States for oil, liquefied natural gas (LNG) and natural gas liquids (NGLs) could skyrocket as production in Eastern Europe could come to standstill, while demand in Europe and elsewhere shoots higher.

We screened the Goldman Sachs energy research database looking for dividend-paying companies that could benefit should the geopolitical situation take a negative turn. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.

Baker Hughes

This somewhat contrarian play makes sense for investors looking for energy exposure via services. Baker Hughes Co. (NYSE: BKR) is an international industrial service company and the second-largest oilfield services and equipment company in the world by market cap. It provides the oil and gas industry with products and services for oil drilling, formation evaluation, completion, production and reservoir consulting.

The company prides itself on being a self-described energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, the firm’s innovative technologies and services are taking energy forward.

Baker Hughes is the core equipment provider and has a greater than 90% market share in the global LNG liquefaction development market. Top analysts across Wall Street expect that strength and market position will drive EBITDA and margin growth.

Shareholders receive a 2.66% dividend. The $32 Goldman Sachs price target on Baker Hughes stock compares with a $30.58 consensus target and Wednesday’s closing print of $27.52.