Gilman Hill Asset Management's Jenny Harrington recommends Devon Energy because of its cheap trading value and solid dividend "I don't want to be a bull, I don't want to be a bear," the investor said on CNBC's "Halftime Report." "I just want to make money." The Oklahoma-based energy stock gained 57% this year, slightly below the 65% jump seen in the S & P 500 's energy sector.
Devon's capital expenditures for the following quarter will be above expectations, as it incorporates capital requirements related to recent bolt-on acquisitions in the Eagle Ford and Williston Basin, according to FactSet. Devon also declared a per-share dividend of $1.35, which is below the prior rate of $1.55. Still, Harrington said she likes the dividend the company provides. Currently, Devon offers a dividend yield of 7.4%, according to FactSet.
🚩 anytime someone mentions a dividend as a reason to buy