Six others never offered dividends and continue to keep budget cuts in place. Those cuts were necessary back in 2014, but the market has changed, though some are choosing to play it safe. Two companies that fall into the former group are Anadarko Petroleum Corp (APC) and Pioneer Natural Resources Co (PXD). Both chose to put their efforts into dividends. Anadarko raised dividends by 20 percent and added $500 million to an existing buyback program. The move made their shares jump up 4.5 percent. Pioneer also put its efforts into dividends, quadrupling them for their investors and made sure to post their better-than-predicted fourth quarter earnings. However, other companies resisted raising dividends. Four out of six saw their valuations take a dip in the market thanks to their decision not to pay. Noble Energy (NBL), Parsley Energy (PE), Devon Energy Corp (DVN) and Cimarex Energy Co (XEC), saw their valuations drop at least 19 percent in the past year.