Diversified Energy (NYSE:DEC) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Diversified Energy (NYSE:DEC) from a buy rating to a hold rating in a research report released on Saturday.

A number of other brokerages have also recently issued reports on DEC. Weiss Ratings reiterated a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, October 8th. Mizuho decreased their price objective on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Citigroup upped their price objective on shares of Diversified Energy from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.50.

Diversified Energy Trading Up 1.7%

Shares of NYSE:DEC opened at $12.84 on Friday. Diversified Energy has a 1 year low of $10.08 and a 1 year high of $17.70. The firm has a fifty day moving average price of $14.70 and a 200 day moving average price of $14.10.

Diversified Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 9.0%. The ex-dividend date is Monday, December 1st.

Institutional Investors Weigh In On Diversified Energy

A number of hedge funds have recently bought and sold shares of DEC. CWM LLC lifted its stake in shares of Diversified Energy by 273.1% in the second quarter. CWM LLC now owns 1,787 shares of the company’s stock valued at $26,000 after buying an additional 1,308 shares during the period. Allworth Financial LP lifted its stake in shares of Diversified Energy by 10,143.9% in the second quarter. Allworth Financial LP now owns 4,200 shares of the company’s stock valued at $62,000 after buying an additional 4,159 shares during the period. Oakworth Capital Inc. bought a new stake in shares of Diversified Energy in the second quarter valued at about $73,000. Tower Research Capital LLC TRC lifted its stake in shares of Diversified Energy by 261.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock valued at $74,000 after buying an additional 3,666 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Diversified Energy by 71.1% in the second quarter. Ameritas Investment Partners Inc. now owns 7,876 shares of the company’s stock valued at $116,000 after buying an additional 3,272 shares during the period. 26.51% of the stock is currently owned by institutional investors.

About Diversified Energy

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.