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Traders hunt for cheap yield stocks that are ready to break out

The "Fast Money" traders looked for high-dividend paying stocks that might be poised to break out.

Trader Dan Nathan said Metlife is a "reasonably priced stock that's got a nice yield."

Trader Tim Seymour said Occidental Petroleum has been "growing [its] position relative to other [companies] in the Permian Basin." He also pointed out that the company recently raised its dividend, while investors in other energy companies worry about dividends getting cut.

Trader Brian Kelly said that he believes oil prices will go higher, so Occidental makes sense as an investment.


Disclosures:

TIM SEYMOUR

Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DAL, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short HYG, IWM, UAL

DAN NATHAN

Dan Nathan is long TWTR, IWM long Sept put, long PYPL call calendar, XOP Sept put spread, BAC long Sept put, long FEZ Nov put spread, long EEM Nov put spread, long FB Sept put spread, AAPL long Nov 105/95 put spread.

BRIAN KELLY

Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP. He is short the euro and the Japanese yen.

GUY ADAMI

Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.