Devon Energy (DVN) stock has risen over 16% since mid-March to $53.80 early on April 10, up from $46.15 where it closed on March 17. However, DVN stock is still attractive to value investors despite the likelihood of a dividend cut with its Q1 earnings release in early May. Despite a potential dividend cut, income investors are still shorting its puts for extra income.
As it stands today, the ongoing dividend is 89 cents quarterly, including a 69 cents variable dividend. That puts the DVN stock dividend yield at 6.6% (i.e., $3.56/$53.80).
