These 3 High-Yield Dividend Stocks Are Gushing Cash
Devon Energy is improving production and buying back stock to boost long-term cash flow per share. Vitesse Energy is acquiring assets and maintaining a very high dividend.
Devon Energy: Discipline Paying Off
Devon Energy Corporation has reported productivity gains and is efficiently restraining capital spending, leading to production growth and lower spending. The company is benefiting from higher oil prices and plans to boost production, as it is breakeven at $40/bbl while WTI prices are above $80/bbl. Devon Energy is using its large cash flows to repurchase shares and has reduced its share count while still paying solid dividends.
2 Energy Stocks That Wall Street Fell in Love With This Week
The development of its upstream assets has ExxonMobil optimistic about its future profits. Devon Energy's valuation is compelling, and its capital allocation strategy makes perfect sense.
Is Devon Energy Stock a Buy?
Devon Energy's earnings and dividend fluctuate alongside oil and gas prices. Income investors bullish on long-term energy prices could find the company's fixed-plus-variable dividend payment appealing.
