My Top Oil Stock to Buy Right Now
The oil industry has been where capital has gone to die over the past several years. Oil companies have invested billions of dollars in drilling new wells over the past decade, which has nearly doubled the country's oil output. However, they have little to show for all that spending: The average oil stock has lost almost 75% of its value during the last decade, as measured by SPDR S&P Oil & Gas E&P ETF returns.
Clearly, the sector's growth strategy hasn't been paying dividends for investors. That's leading Devon Energy (NYSE: DVN) to take a new approach by launching an industry-first "fixed plus variable" dividend program. This new plan puts returning cash to shareholders at the forefront, making it my top oil stock to buy right now.
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Source Fool.com
