Here's An Oil Stock That'll Pay You $500 A Month
Portfolio Pulse from AJ Fabino
Despite a historic plunge in U.S. crude inventories, oil prices fell by 3.4% due to broader market turmoil triggered by Fitch's downgrade of the U.S. government's top credit rating. Shares of Devon Energy Corp (NYSE:DVN) sank more than 7%, but the company's generous dividend yield of 9.10% makes it attractive for income investors. An investment of about $65,934 in Devon Energy would translate into a $500 dividend payout each month.
August 04, 2023 | 12:22 pm
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Devon Energy Corp's shares fell by over 7% due to falling oil prices. However, its high dividend yield of 9.10% could make it an attractive investment for income investors.
The fall in oil prices has negatively impacted Devon Energy Corp's share price. However, the company's high dividend yield could attract income investors, potentially offsetting some of the negative impact. The company's future performance will largely depend on oil price trends and its ability to maintain its dividend payments.
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