Devon Energy Corporation
DVN
position
long
Tweedy, Browne
Thesis
Devon Energy was bought by Tweedy, Browne during a period of declining oil prices, suggesting confidence in its future performance and recovery in the energy market.
Did it work?
failed
confidence: high
The long thesis on Devon Energy was based on the belief that the company would recover in the energy market despite declining oil prices. However, with a price performance of -32.8% over 214 months, it is clear that the anticipated recovery did not materialize, indicating that the thesis failed.
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