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Are Institutional Investors Accumulating Devon Energy?

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Feb. 13 2017, Updated 7:36 a.m. ET

Devon Energy’s 13F filers

In 3Q16, 312 funds were buyers of Devon Energy’s (DVN) stock, and 362 funds were sellers. Therefore, selling funds outnumbered buying funds by 50. As of September 30, 2016, 737 13F filers held DVN in their portfolio, with 16 holding DVN in their top ten.

However, when looked at from an aggregate shares point of view, in 3Q16, 13F filers increased their aggregate DVN position by ~1%, or from ~396.1 million shares to ~399.1 million shares.

As of September 30, 2016, Devon Energy had ~527 million common shares outstanding. Form 13F is a SEC (Securities and Exchange Commission) mandate that needs to be submitted by all institutional investors who manage more than $100 million in assets.

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Other upstream players

In 3Q16, 13F filers reduced their aggregate share positions in upstream companies EOG Resources (EOG), Consol Energy (CNX), and ConocoPhillips (COP). Whereas the First Trust ISE Revere Natural Gas ETF (FCG) invests in natural gas producers, the Energy Select Sector SPDR ETF (XLE) invests at least 95% of its total assets in oil and gas companies.

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