Are Institutional Investors Bailing on Devon Energy?
Devon Energy’s 13F filers’ statistics
In 1Q17, 342 funds were buyers of Devon Energy (DVN) stock, and 349 funds were sellers of DVN. In 1Q17, total selling funds outnumbered total buying funds by seven. On March 31, 2017, 739 13F filers held DVN in their portfolios, out of which only 14 filers had DVN in their top ten holdings.
When viewed from the aggregate shares point of view, 13F filers reduced their aggregate DVN positions by ~2.8% in 1Q17. This represented a reduction from ~412.3 million shares to ~400.9 million shares.
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In notable reductions, Fiduciary Management reduced its DVN holdings from ~2.5% of its portfolio to ~1.2%. In 1Q17, Fiduciary Management sold ~3.8 million shares of DVN to bring its total DVN position to ~5.1 million shares.
Alleghany Corporation reduced its DVN holdings from ~2.6% of its portfolio to ~1.7%. In 1Q17, Alleghany Corporation sold ~0.83 million shares of DVN to bring its total DVN position to ~0.83 million shares.
On March 31, 2017, Devon Energy had ~525 million common shares outstanding. Form 13F is a SEC mandate that must be submitted by all institutional investors who manage more than $100 million in assets.