State Street Corp Amends Devon Energy Stake, Passive Holding Confirmed
Ticker: DVN · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 1090012
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**State Street still owns Devon Energy shares, no major changes.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 30, 2024, indicating its ownership of common stock in Devon Energy Corp/DE as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant, but passive, stake in the crude petroleum and natural gas company. This matters to investors as it shows a large institutional holder maintains its position, suggesting a stable long-term outlook from a major player.
Why It Matters
This filing confirms State Street Corporation's continued significant, passive ownership in Devon Energy, signaling institutional confidence in the company's long-term prospects.
Risk Assessment
Risk Level: low — This is a routine amendment by a passive institutional investor, indicating no significant change in their investment strategy or a threat to the company.
Analyst Insight
This filing is routine and does not suggest any immediate action for investors. It simply confirms a major institutional holder's continued passive stake in Devon Energy, which can be seen as a sign of stability.
Key Numbers
- 25179M103 — CUSIP Number (identifies Devon Energy Corp/DE common stock)
- 005-56719 — SEC File Number (identifies Devon Energy Corp/DE's registration with the SEC)
- 04-2456637 — IRS Identification No. (identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Devon Energy Corp/DE (company) — the subject company whose securities are being reported
- 0000093751-24-000462 (dollar_amount) — accession number for the filing
- January 30, 2024 (date) — date the SC 13G/A filing was made
- December 31, 2023 (date) — date of the event which required the filing
Forward-Looking Statements
- State Street Corporation will maintain a significant, passive stake in Devon Energy Corp/DE. (State Street Corporation) — high confidence, target: Q4 2024
- Devon Energy Corp/DE's stock price will not be significantly impacted by this routine filing. (Devon Energy Corp/DE) — high confidence, target: Q1 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, indicating a change or update to a previously filed statement of beneficial ownership.
Who is the 'Reporting Person' in this filing?
The 'Reporting Person' is State Street Corporation, identified with IRS Identification No. 04-2456637.
What is the 'Subject Company' or 'Issuer' of the securities?
The 'Subject Company' or 'Issuer' is DEVON ENERGY CORP/DE, identified by CIK 0001090012.
What is the 'Date of Event Which Requires Filing of This Statement'?
The 'Date of Event Which Requires Filing of This Statement' is December 31, 2023.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13D-1 (B), as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding DEVON ENERGY CORP/DE (DVN).