Devon rises after report activist Toms Capital urges sale

By Reuters News

** Shares of oil producer Devon Energy DVN.N rise 3.2% to $48.43

** Activist investor Toms Capital, in a letter, urges Devon to explore alternatives, including a sale, according to CNBC

** Toms is now one of Devon's top five shareholders - letter viewed by CNBC

** CNBC reports that in meetings prior to sending its letter, Toms had encouraged a similar strategy and now is urging the company to sell itself

** Toms Capital and Devon Energy did not immediately respond to Reuters' request for comment

** Devon shares also getting support form rise in crude price; stock among top percentage gainers on the S&P 500 Energy Index .SPNY

** Including session's moves, Devon Energy up 32% YTD

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk