BUY $DVN
Devon Energy (NYSE:DVN) will also report its third-quarter earnings on Nov. 2, but Wall Street has even bigger expectations from this oil stock and expects to see nearly 200% growth in sales and 60% growth in its earnings in Q3.
Importantly, beyond its quarterly numbers, what matters is Devon's capability to efficiently return capital to shareholders in the long run. The oil stock could easily pass that test thanks to its new, unique fixed-plus-variable dividend policy.
So Devon is paying a fixed, regular dividend, and supplementing it with special dividends of up to 50% incremental cash flows (cash flows left after capital expenditures and fixed dividend) each quarter. With oil prices on the rise, that could mean some hefty dividend checks coming your way. For example, Devon's total dividend of $0.49 per share last quarter was up an astounding 44% sequentially.
Devon has already proved its mettle with uninterrupted dividend increases for the past 28 years, but potentially faster dividend growth under its new dividend policy is a double boon for shareholders. With premier Basin assets in Anadarko, Eagle Ford, Williston, and Powder River and having repaid substantial amounts of debt in recent quarters, Devon can afford to pay big dividends at current oil prices, making it a top oil stock to own.
Importantly, beyond its quarterly numbers, what matters is Devon's capability to efficiently return capital to shareholders in the long run. The oil stock could easily pass that test thanks to its new, unique fixed-plus-variable dividend policy.
So Devon is paying a fixed, regular dividend, and supplementing it with special dividends of up to 50% incremental cash flows (cash flows left after capital expenditures and fixed dividend) each quarter. With oil prices on the rise, that could mean some hefty dividend checks coming your way. For example, Devon's total dividend of $0.49 per share last quarter was up an astounding 44% sequentially.
Devon has already proved its mettle with uninterrupted dividend increases for the past 28 years, but potentially faster dividend growth under its new dividend policy is a double boon for shareholders. With premier Basin assets in Anadarko, Eagle Ford, Williston, and Powder River and having repaid substantial amounts of debt in recent quarters, Devon can afford to pay big dividends at current oil prices, making it a top oil stock to own.
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