Income investors could have it all with this stock. For years, Miller Lite ran ads that featured the line "Tastes great. Less filling." Having it all appealed to beer drinkers. That general idea is attractive to income investors, too. They're accustomed to buying stocks that pay solid dividends but don't deliver much in the way of growth. But they'd love to have it all -- great dividends and significant share price appreciation.
Analysts believe that income investors just might be able to have it all. This dividend stock offers an ultra-high yield of 9.1% -- and Wall Street thinks the stock can soar 32% higher. The average analysts' 12-month price target for Devon Energy (DVN) reflects an upside potential of close to 32%. Of the 32 analysts surveyed by Refinitiv in May, 10 rate the oil stock as a "strong buy" with 13 rating the stock as a "buy." None recommend selling Devon. Devon is an independent oil and gas company that focuses on U.S. onshore drilling. It produced a record-high 320,000 barrels of oil per day in the first quarter of 2023. The stock has fallen around 20% so far in 2023 due to declining oil prices. However, this performance should be put into context: Devon's share price skyrocketed 179% in 2021 and 40% in 2022.
Source: Motley Fool
Related Articles:
- A Winning Investment Strategy
-3 Dividend Stocks With A 20% Yield In 20 Years
This Dividend Stock Offers an Ultra-High Yield of 9.1% -- and Wall Street Thinks It Can Soar 32% Higher
Posted by D4L | Wednesday, June 14, 2023 | ArticleLinks | 0 comments »________________________________________________________________
Subscribe to:
Post Comments (Atom)
~
Popular Posts Last 30 Days
-
As a relatively new blogger, the one thing that has stood out in my mind is the number of Canadian bloggers in the areas that I am most inte...
-
GameStop (NYSE:GME) lost about 40% of its market value over the past three years, as rising digital downloads and declining mall traffic thr...
-
In a capitalistic society, opportunities to generate (mostly) passive income are all around us. Dividend growth investing is one of the most...
-
These elite income producers have rallied this year. Their brilliance at producing passive income seems to have caught the market's eye ...
-
While optimism in the broader market remains robust – particularly for hyped-up sectors like technology – investors may still want to consid...
-
Buying dividend stocks can be tricky. Oftentimes, stocks that pay exorbitantly high dividends have underlying financial problems, and their ...
-
If you are looking for reliable dividends, these three Dividend Kings should be right up your alley. Dividends are paid at the discretion of...
-
Since the market highs in July, stocks have been under considerable pressure. Indeed, 10-year Treasury yields are at the highest level since...
-
A strong dividend investing strategy may be to focus on high-quality names that score well on several dividend-related metrics. In other wor...
-
These investments take advantage of the potential for growth in the share price and dividend yield. Yet, when it comes to undervalued compan...
0 comments
Post a Comment
Post a Comment
Note: Only a member of this blog may post a comment.