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Devon rises after report activist Toms Capital urges sale

By Reuters News14:16 (UTC), 23 September 2026 Updated

** 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

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