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Activist investor Toms Capital targets Devon Energy after landmark merger

Toms Capital is pushing Devon Energy to sell assets. The hedge fund now holds a top five position in the company following its merger with Coterra Energy. Devon Energy recently updated its 2026 outlook on June 9.

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What changed

Toms Capital is now confirmed as a top five shareholder.

Live updates

  1. Toms Capital secures top five stake in Devon Energy

    Toms Capital is pushing Devon Energy to sell assets. The hedge fund now holds a top five position in the company following its merger with Coterra Energy. Devon Energy recently updated its 2026 outlook on June 9.

    What's confirmed:

    • Toms Capital holds a top five stake in Devon Energy.
    • Toms Capital is pressing Devon Energy on asset sales.

    Still unconfirmed:

    • Raymond James issued a Buy call on DVN on June 15.
    • Devon Energy updated its 2026 outlook on June 9.
    confidence 90%

  2. Toms Capital Secures Top-Five Stake in Devon Energy

    Toms Capital Investment Management has acquired a major position in Devon Energy following the producer's merger with Coterra Energy. The activist hedge fund is demanding that the company either accelerate asset sales or seek a total sale. Devon Energy is currently valued at $50 billion.

    What's confirmed:

    • Toms Capital Investment Management has built a top-five stake in Devon Energy Corporation.
    • The activist move follows a merger between Devon Energy and Coterra Energy.
    • Devon Energy is a $50 billion shale producer.
    • Toms Capital is pressing Devon Energy to sell assets or put the company up for sale.
    confidence 100%

  3. TOMS Capital Pressures Devon Energy for Asset Sales or Full Exit

    Activist investor TOMS Capital Investment Management has taken a significant position in Devon Energy. The firm wants the shale producer to speed up asset divestitures. Alternatively, TOMS Capital is pushing for a total sale of the company.

    What's confirmed:

    • TOMS Capital Investment Management has acquired a significant stake in Devon Energy.
    • TOMS Capital is urging Devon Energy to accelerate asset sales or pursue a total sale of the company.
    confidence 100%

  4. TOMS Capital Becomes Top-Five Investor in Devon Energy

    TOMS Capital Investment Management is urging Devon Energy to accelerate asset sales or seek a buyer. The activist investor has acquired a sizable stake in the U.S. shale operator. This pressure follows Devon Energy's $58 billion merger with Coterra Energy.

    What's confirmed:

    • TOMS Capital Investment Management acquired a sizable stake in Devon Energy.
    • TOMS Capital is pressing Devon Energy to sell assets or put itself up for sale.
    • Devon Energy completed a $58 billion merger with Coterra Energy.

    Still unconfirmed:

    • TOMS Capital is backed by Citadel.
    • TOMS Capital is a top-five investor in Devon Energy.
    • TOMS Capital is the second activist pushing for changes after Kimmerid.
    confidence 80%

  5. Toms Capital Pressures Devon Energy for Asset Sales or Company Sale

    Activist investor Toms Capital has taken a major position in US shale producer Devon Energy. The firm is pushing the company to accelerate asset sales or seek a buyer for itself. This follows Devon Energy's May completion of a $58 billion merger with Coterra Energy.

    What's confirmed:

    • Toms Capital Investment Management has acquired a stake in Devon Energy.
    • Devon Energy completed a $58 billion merger with Coterra Energy in May.
    • Toms Capital is urging Devon Energy to either sell assets or sell the company.

    Still unconfirmed:

    • Five people familiar with the matter claim Toms Capital is pressing the operator to sell assets or put itself up for sale.
    confidence 90%