DVN - These 3 High-Yield Dividend Stocks Are Gushing Cash
2024-05-20 03:27:00 ET
Devon Energy (NYSE: DVN) , Vitesse Energy (NYSE: VTS) , and Diamondback Energy (NASDAQ: FANG) are all high-yield energy stocks with excellent growth prospects. While it's never a good idea to go "all in" in one sector (unless you have a strong view of the price of oil), these three stocks offer good options as part of an income-seeking, diversified portfolio.
It's no secret that, based on current valuations, the market isn't in love with energy stocks. Highly cyclical stocks often look undervalued due to the market pricing and the volatility inherent in their earnings, which are driven by oil prices. That said, if you take an agnostic view and pencil in an oil price similar to the current price, then these three stocks look like an excellent value.
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These 3 High-Yield Dividend Stocks Are Gushing Cash