Devon Energy (DVN) raised their quarterly dividend to $1.55 from %1.27 per share. The Chevron (CVX) stock price is up 35% in 2022. Will energy stocks continue to outperform crude oil? “Investors saw a massive selloff of energy stocks after the June 16th highs. Investing in energy is not so much a play on oil, but a play on cash flow,” says Kevin Simpson.