Wolfe Research Boosts Devon Energy’s Outlook Amid Mixed Fund Activity
Fintel reports that on January 3, 2025, Wolfe Research upgraded their assessment of Devon Energy (WBAG:DVN) from Peer Perform to Outperform.
Fund Sentiment Analysis
Currently, 2,037 funds or institutions hold positions in Devon Energy, marking an increase of 4 owners, or 0.20% over the last quarter. The average portfolio weight allocated to DVN by all funds stands at 0.28%, which is up by 3.02%. Over the past three months, total institutional shares owned surged by 8.78%, reaching 571,632K shares.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 19,822K shares, representing 3.02% ownership of the company. The latest filing shows a slight decline from 19,969K shares, reflecting a decrease of 0.74%. The fund has cut its DVN allocation by 23.05% in the previous quarter.
XLE – The Energy Select Sector SPDR Fund owns 16,687K shares, amounting to 2.54% ownership. This figure indicates a drop from 17,496K shares, demonstrating a decrease of 4.85%. The fund has reduced its DVN portfolio allocation by 15.95% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares currently holds 16,401K shares, representing 2.50% ownership. This is an increase from its previous 16,220K shares, marking a minor gain of 1.11%. However, the fund cut its DVN allocation by 23.20% in the last quarter.
Geode Capital Management controls 15,893K shares, equating to 2.42% ownership. An increase from 15,686K shares, this reflects a gain of 1.30%. Still, the firm has seen a significant allocation reduction of 59.61% for DVN over the previous quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 13,260K shares, representing 2.02% ownership, down from 13,538K shares, a decrease of 2.10%. Here too, the fund decreased its allocation in DVN by 25.64% last quarter.
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This story originally appeared on Fintel.
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