1 Magnificent Oil Stock Down Nearly 30% to Buy and Hold Forever

Devon Energy's (NYSE: DVN) stock price has fallen nearly 30% from its 52-week highs. That drop roughly tracks along with the price declines in West Texas Intermediate crude, a key U.S. oil benchmark. But the big story for income investors is that the dividend has now settled at $0.22 per share per quarter. There's a lot to unpack here, but Devon Energy is still a great oil company, even if the dividend is in a state of flux.Devon Energy is a pure play upstream oil and natural gas producer. That means that its top and bottom lines are, effectively, dependent on the price of the commodities it produces. If energy prices are rising, Devon's revenues and earnings will strengthen. If energy prices are falling, Devon's revenues and earnings will weaken. There are no other divisions in the company to soften the blow, as you'd find at an integrated energy company with a business that spans from the upstream (energy production) through the midstream (pipelines) and all the way to the downstream (chemicals and refining).Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool