By David French

NEW YORK — Activist investment firm Kimmeridge Energy Management has taken a stake in U.S. shale producer Devon Energy , according to a stock market filing released on Friday.

The details

Kimmeridge owned 5.66 million shares in Devon as of the end of September, the filing said. That would equate to an approximately 0.9% stake in Devon , according to Reuters calculations, and make it Devon ‘s 14th-largest shareholder, according to data provider LSEG.

Devon shares fell 1% in the opening 30 minutes of trading on Friday, amid a broader market sell-off, giving the company a market value of around $22 billion.

The 13F filing from Kimmeridge did not detail anything beyond the number of shares held at the end of the third quar

See Full Page