Michael Clarfeld, portfolio manager at ClearBridge Investments, has increased his position in companies such as Pioneer Natural Resources Co PXD.N. Often overlooked in favor of trendy growth names prior to the recent spike in consumer prices, the appeal of dividend payers has increased this year, as an aggressive Federal Reserve and inflation worries combine to batter stocks and bonds. As "cash grows more valuable amid Fed hiking, we expect dividend yield and bird-in-the-hand strategies to continue to outperform" in the second half of the year, BofA strategists wrote earlier this month.