Legal & General Group Plc Purchases 39,334 Shares of Diversified Energy Company PLC $DEC

by · The Markets Daily

Legal & General Group Plc grew its position in Diversified Energy Company PLC (NYSE:DEC – Free Report) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 897,365 shares of the company’s stock after buying an additional 39,334 shares during the quarter. Legal & General Group Plc owned 1.86% of Diversified Energy worth $13,329,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DEC. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Diversified Energy in the first quarter worth about $283,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Diversified Energy by 29.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,264 shares of the company’s stock valued at $232,000 after purchasing an additional 3,911 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Diversified Energy by 78.7% in the 1st quarter. Mackenzie Financial Corp now owns 180,138 shares of the company’s stock worth $2,430,000 after purchasing an additional 79,341 shares during the period. Federated Hermes Inc. bought a new position in shares of Diversified Energy during the first quarter valued at approximately $108,000. Finally, Jupiter Asset Management Ltd. increased its holdings in Diversified Energy by 5.2% during the first quarter. Jupiter Asset Management Ltd. now owns 2,892,480 shares of the company’s stock valued at $38,940,000 after buying an additional 141,691 shares during the period. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Performance

Shares of DEC stock opened at $15.04 on Friday. Diversified Energy Company PLC has a fifty-two week low of $10.08 and a fifty-two week high of $17.70. The firm has a market capitalization of $725.23 million, a price-to-earnings ratio of 10.23 and a beta of 0.62. The stock’s 50-day simple moving average is $13.80 and its 200-day simple moving average is $14.47.

Diversified Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, February 27th. This represents a $1.16 dividend on an annualized basis and a yield of 7.7%. Diversified Energy’s dividend payout ratio is presently 55.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DEC shares. Citigroup upped their target price on Diversified Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Wall Street Zen downgraded Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Mizuho cut their target price on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Diversified Energy in a research report on Wednesday, October 8th. Finally, William Blair started coverage on shares of Diversified Energy in a research report on Tuesday, November 18th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Diversified Energy currently has an average rating of “Moderate Buy” and an average target price of $21.75.

View Our Latest Analysis on DEC

About Diversified Energy

(Free Report)

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.

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