Yacktman Asset Management LP Cuts Stake in Devon Energy Corporation $DVN

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Yacktman Asset Management LP significantly reduced its holdings in Devon Energy Corporation by 17% in the fourth quarter, selling 88,855 shares, though still retaining 432,311 shares valued at $15.8 million. This comes as Devon Energy recently completed a merger with Coterra Energy, approved an $8 billion share buyback, and increased its quarterly dividend. Despite these positive corporate actions, the company’s latest earnings missed analyst expectations for both EPS and revenue.

IN-4.39%
AT1.67%
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