Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Devon Energy has suddenly found itself at the center of one of the more intriguing takeover debates in the U.S. energy sector.</li><li>Activist investor Toms Capital, which says it is among Devon’s five largest shareholders, is pushing the oil and gas producer to evaluate strategic alternatives, including a potential sale of the entire company.</li><li>The campaign comes only months after Devon completed its roughly $25 billion combination with Coterra Energy, creating a much larger producer with a particularly significant position in the Delaware Basin.</li></ul>

Devon Energy has suddenly found itself at the center of one of the more intriguing takeover debates in the U.S. energy sector.Activist investor Toms Capital, which says it is among Devon’s five largest shareholders, is pushing the oil and gas producer to evaluate strategic alternatives, including a potential sale of the entire company.The campaign comes only months after Devon completed its roughly $25 billion combination with Coterra Energy, creating a much larger producer with a particularly significant position in the Delaware Basin.

Devon Energy Gains On Sale Push After $25 Billion Coterra Deal!

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul><li>The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant.</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li><li>Previous portfolio returned -0.2% vs. MSCI World (-1.3%) – outperformed the benchmark by 1.2%.</li></ul>

The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant.By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.Previous portfolio returned -0.2% vs. MSCI World (-1.3%) – outperformed the benchmark by 1.2%.

Global Competitive Barrier (Shariah) Portfolio (14-Sep-2026)

<ul><li>Devon Energy completed a merger with Coterra Energy in early May 2026, marking 94 days of integration and operational execution discussed during the second quarter.</li><li>The company reported strong quarter performance, surpassing production guidance and generating $1.7 billion in adjusted free cash flow.</li><li>Key elements emphasized include the integration progress, delivery on synergy targets, and enhanced portfolio quality through strategic acquisitions, such as the New Mexico federal lease sale, which added approximately 400 premium drilling locations in the Delaware Basin at effective costs lower than headline figures due to favorable royalty structures.</li></ul>

Devon Energy completed a merger with Coterra Energy in early May 2026, marking 94 days of integration and operational execution discussed during the second quarter.The company reported strong quarter performance, surpassing production guidance and generating $1.7 billion in adjusted free cash flow.Key elements emphasized include the integration progress, delivery on synergy targets, and enhanced portfolio quality through strategic acquisitions, such as the New Mexico federal lease sale, which added approximately 400 premium drilling locations in the Delaware Basin at effective costs lower than headline figures due to favorable royalty structures.

Devon Energy’s $1 Billion Synergy Target — Is The Coterra Integration Ahead Of Plan?

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

Interactive Brokers Group, Inc / Index Rebalance

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we take a look at the upcoming constituent changes in the run up to the September 2025 index rebal event.</li>
<li>We expect two regular changes in September 2025 - maybe $10bn a side. There are also a couple of live M&amp;A events which are likely to trigger intra-review index changes.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we take a look at the upcoming constituent changes in the run up to the September 2025 index rebal event.
We expect two regular changes in September 2025 - maybe $10bn a side. There are also a couple of live M&amp;A events which are likely to trigger intra-review index changes.


[Quiddity Index] S&P500/400/600 Sep25 Rebal: Two Possible Changes, But One Iffy

<ul><li>Devon Energy Corporation reported strong first quarter 2026 results, showcasing operational execution and financial discipline.</li><li>The company achieved oil production of 387,000 barrels per day, reaching the top end of its guidance range.</li><li>Capital expenditures were 6% below the midpoint of guidance, aided by efficiencies in drilling and completion processes driven by advanced technology and AI integration.</li></ul>

Devon Energy Corporation reported strong first quarter 2026 results, showcasing operational execution and financial discipline.The company achieved oil production of 387,000 barrels per day, reaching the top end of its guidance range.Capital expenditures were 6% below the midpoint of guidance, aided by efficiencies in drilling and completion processes driven by advanced technology and AI integration.

Why Devon Energy Portfolio Uplift Matters More Than First Quarter Strength!

United States

Devon Energy Corporation is an independent energy company that is involved primarily in oil and gas exploration, development and production, the transportation of oil, gas, and NGLs and the processing of natural gas. The Company also has marketing and midstream operations primarily in North America that include gas, crude oil and NGLs.

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Devon Energy (DVN US)

Devon Energy Gains On Sale Push After $25 Billion Coterra Deal!

Devon Energy has suddenly found itself at the center of one of the more intriguing takeover debates in the U.S. energy sector. Activist investor...

Baptista Research

Global Competitive Barrier (Shariah) Portfolio (14-Sep-2026)

The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant. By adopting a portfolio of...

Crea8

Devon Energy’s $1 Billion Synergy Target — Is The Coterra Integration Ahead Of Plan?

Devon Energy completed a merger with Coterra Energy in early May 2026, marking 94 days of integration and operational execution discussed during...

Baptista Research

[Quiddity Index] S&P500/400/600 Sep25 Rebal: Two Possible Changes, But One Iffy

We expect IBKR and possibly APP to join the S&P500 in September. We expect two deletes. MSTR has moved to second place BUT it has issues which...

Travis Lundy

Why Devon Energy Portfolio Uplift Matters More Than First Quarter Strength!

Devon Energy Corporation reported strong first quarter 2026 results, showcasing operational execution and financial discipline. The company...

Baptista Research

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