Smart Money Is Buying: Devon Energy Corp.

According to the most recent reported 13F filings, institutional investors showed notable buying activity in Devon Energy Corp. (DVN), with several prominent value, quantitative, and hedge fund investors increasing their positions or establishing new stakes during the quarter.

Below are some of the most notable buyers from the latest reported quarter:

Chris Davis

Shares: 25,297,991  New Position  Value: $1.05B

Davis Selected Advisers initiated by far the largest new position in Devon Energy among the investors shown, purchasing approximately 25.30 million shares. The stake was valued at roughly $1.05 billion at the end of the reporting period, making Devon a significant new investment for the firm.

Cliff Asness

Shares: 7,169,378  Added: 2,046,912  Value: $0.30B

AQR Capital Management significantly increased its Devon Energy position during the quarter, adding more than 2.04 million shares. The firm previously held approximately 5.12 million shares, with the latest buying lifting its total position to nearly 7.17 million shares valued at approximately $300 million.

Steve Cohen

Shares: 3,290,478  New Position  Value: $0.14B

Point72 Asset Management established a new position in Devon Energy during the quarter, purchasing approximately 3.29 million shares. The new stake was valued at roughly $140 million.

Ray Dalio

Shares: 735,174  New Position  Value: $0.03B

Bridgewater Associates also initiated a new Devon Energy position, purchasing 735,174 shares valued at approximately $30 million.

Donald Yacktman

Shares: 510,913  Added: 52,069  Value: $0.02B

Yacktman Asset Management added 52,069 shares to its existing Devon position, increasing its holding from approximately 458,844 shares to 510,913 shares.

Tweedy Browne

Shares: 34,147  Added: 8,525  Value: <$0.01B

Tweedy, Browne increased its Devon Energy holding by 8,525 shares, lifting its position from 25,622 shares to 34,147 shares.

Ken Fisher

Shares: 53,129  Added: 7,887  Value: <$0.01B

Fisher Asset Management added 7,887 shares during the quarter, increasing its position from 45,242 shares to 53,129 shares.

Mario Gabelli

Shares: 9,022  Added: 354  Value: <$0.01B

GAMCO Investors modestly increased its Devon Energy position during the quarter, adding 354 shares to its existing holding. The purchase lifted the firm’s total position from 8,668 shares to 9,022 shares.

Overall Takeaway

The latest filings highlight broad institutional buying interest in Devon Energy. The standout move came from Chris Davis, whose firm established a new position worth approximately $1.05 billion.

Cliff Asness was also a substantial buyer, adding more than 2 million shares, while Steve Cohen and Ray Dalio initiated entirely new positions. The combination of major new stakes and additions from several well-known investors suggests Devon Energy attracted meaningful institutional attention during the latest reported quarter.