SYM FINANCIAL Corp Acquires 2,691 Shares of Devon Energy Corporation $DVN

SYM FINANCIAL Corp increased its holdings in Devon Energy Corporation (NYSE:DVN) by 30.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,437 shares of the energy company’s stock after purchasing an additional 2,691 shares during the quarter. SYM FINANCIAL Corp’s holdings in Devon Energy were worth $364,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Devon Energy in the second quarter worth $25,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Devon Energy in the first quarter worth $26,000. Banque Cantonale Vaudoise bought a new stake in shares of Devon Energy in the first quarter worth $26,000. Trust Co. of Vermont grew its stake in shares of Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after purchasing an additional 666 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Devon Energy in the second quarter worth $34,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE DVN opened at $32.95 on Tuesday. The firm’s 50-day moving average price is $34.42 and its 200-day moving average price is $33.06. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $40.54. The firm has a market capitalization of $20.91 billion, a P/E ratio of 7.39, a P/E/G ratio of 2.55 and a beta of 1.03. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.24 per share. The ex-dividend date was Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. Devon Energy’s dividend payout ratio is currently 21.52%.

Insider Buying and Selling at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the sale, the director owned 31,801 shares in the company, valued at $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Devon Energy from $31.00 to $33.00 and gave the company a “hold” rating in a report on Monday, July 14th. Tudor, Pickering, Holt & Co. boosted their target price on shares of Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Evercore ISI boosted their target price on shares of Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a report on Monday, October 6th. Piper Sandler dropped their target price on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Finally, Scotiabank restated an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

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.