Diversified Energy (NYSE:DEC) Shares Down 5.2% – Here’s What Happened

by · The Markets Daily

Shares of Diversified Energy Company PLC (NYSE:DEC – Get Free Report) were down 5.2% during mid-day trading on Thursday . The stock traded as low as $14.67 and last traded at $14.6060. Approximately 428,227 shares traded hands during trading, a decline of 7% from the average daily volume of 462,285 shares. The stock had previously closed at $15.40.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup boosted their price objective on Diversified Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Johnson Rice upgraded Diversified Energy from an “accumulate” rating to a “buy” rating and boosted their price target for the company from $19.00 to $23.00 in a research note on Friday, December 5th. Mizuho lowered their price objective on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. William Blair initiated coverage on Diversified Energy in a report on Tuesday, November 18th. They set an “outperform” rating for the company. Finally, Wall Street Zen cut shares of Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

View Our Latest Research Report on DEC

Diversified Energy Stock Performance

The firm’s fifty day moving average is $13.97 and its 200-day moving average is $14.55. The company has a market capitalization of $755.67 million, a P/E ratio of 9.90 and a beta of 0.48.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, February 27th. This represents a $1.16 annualized dividend and a dividend yield of 8.0%. Diversified Energy’s dividend payout ratio is 55.10%.

Institutional Investors Weigh In On Diversified Energy

Several hedge funds have recently modified their holdings of DEC. Vanguard Group Inc. grew its position in Diversified Energy by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,850,221 shares of the company’s stock worth $38,663,000 after acquiring an additional 82,113 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Diversified Energy by 10.7% during the first quarter. Deutsche Bank AG now owns 131,062 shares of the company’s stock valued at $1,772,000 after purchasing an additional 12,681 shares in the last quarter. Swiss National Bank grew its holdings in shares of Diversified Energy by 20.5% during the first quarter. Swiss National Bank now owns 110,056 shares of the company’s stock worth $1,484,000 after purchasing an additional 18,757 shares during the last quarter. Nuveen LLC acquired a new position in shares of Diversified Energy in the first quarter valued at approximately $2,190,000. Finally, Russell Investments Group Ltd. raised its holdings in Diversified Energy by 53.3% in the 1st quarter. Russell Investments Group Ltd. now owns 77,403 shares of the company’s stock valued at $1,046,000 after buying an additional 26,899 shares during the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

Diversified Energy Company Profile

(Get 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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