5 Dogs of the S&P 500

2. Devon Energy Corporation (NYSE:DVN)

Dividend Yield as of June 22: 9.22%

Devon Energy Corporation (NYSE:DVN) is an Oklahoma-based energy company that is engaged in the exploration of hydrocarbons. The company launched the first fixed-plus-variable dividend in the industry a few years ago. On May 8, it declared a fixed-plus-variable dividend payout of $0.72 per share based on its first-quarter earnings. The stock’s dividend yield on June 22 came in at 9.22%.

At the end of March 31, 49 hedge funds in Insider Monkey’s database reported having stakes in Devon Energy Corporation (NYSE:DVN), compared with 55 in the previous quarter. These stakes have a total value of over $570.7 million.

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