SYM FINANCIAL Corp Makes New Investment in Devon Energy Corporation (NYSE:DVN)

SYM FINANCIAL Corp purchased a new stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 8,746 shares of the energy company's stock, valued at approximately $327,000.

Other hedge funds have also recently made changes to their positions in the company. Hurley Capital LLC bought a new stake in Devon Energy in the fourth quarter worth $26,000. Financial Gravity Asset Management Inc. bought a new stake in Devon Energy in the first quarter worth $26,000. Accredited Wealth Management LLC bought a new stake in Devon Energy in the fourth quarter worth $28,000. Rakuten Securities Inc. lifted its stake in Devon Energy by 94.6% in the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock worth $31,000 after purchasing an additional 405 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new stake in Devon Energy in the first quarter worth $38,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DVN shares. Piper Sandler reissued an "overweight" rating and issued a $58.00 price target (up from $53.00) on shares of Devon Energy in a research note on Thursday, July 17th. Bernstein Bank lowered their price objective on shares of Devon Energy from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Monday, July 7th. Wolfe Research upped their price objective on shares of Devon Energy from $47.00 to $49.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. UBS Group lifted their price target on shares of Devon Energy from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Bank of America reduced their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Devon Energy has an average rating of "Moderate Buy" and a consensus price target of $43.85.

Devon Energy Stock Performance

Devon Energy stock traded up $0.07 during midday trading on Thursday, reaching $33.31. 9,726,780 shares of the company traded hands, compared to its average volume of 6,788,668. The firm has a market capitalization of $21.39 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The business has a 50 day moving average of $32.75 and a two-hundred day moving average of $33.53. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $47.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. As a group, research analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.88%. Devon Energy's dividend payout ratio (DPR) is 21.87%.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.