Devon Energy is a cash-flow-producing (and returning) machine. Devon Energy (DVN 2.83%) has transformed into a low-cost oil producer over the years. It has jettisoned high-cost operations and recycled that capital to grow its higher-returning assets. This strategy continues to pay big dividends for shareholders. Devon is generating lots of cash and returning much of it to its investors. The oil company's cash-generating capabilities were on full display during the second quarter. With further improvements a ...