Diversified Energy Company PLC (NYSE:DEC) Sees Significant Decrease in Short Interest

Diversified Energy Company PLC (NYSE:DEC) was the recipient of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 2,401,784 shares, a drop of 16.5% from the January 15th total of 2,874,860 shares. Based on an average daily trading volume, of 562,756 shares, the short-interest ratio is currently 4.3 days. Based on an average daily trading volume, of 562,756 shares, the short-interest ratio is currently 4.3 days.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Johnson Rice upgraded shares of Diversified Energy from an “accumulate” rating to a “buy” rating and increased their price target for the company from $19.00 to $23.00 in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Diversified Energy in a research note on Wednesday, January 21st. Mizuho increased their price target on Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Zacks Research lowered shares of Diversified Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Citigroup cut their price objective on shares of Diversified Energy from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Diversified Energy presently has an average rating of “Hold” and a consensus target price of $20.50.

Insiders Place Their Bets

In related news, Director Randall S. Wade sold 2,100,000 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $13.28, for a total value of $27,888,000.00. Following the completion of the transaction, the director directly owned 7,501,585 shares of the company’s stock, valued at approximately $99,621,048.80. This represents a 21.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Diversified Energy

A number of hedge funds have recently made changes to their positions in DEC. Royal Bank of Canada raised its holdings in shares of Diversified Energy by 168.8% during the first quarter. Royal Bank of Canada now owns 26,366 shares of the company’s stock valued at $356,000 after purchasing an additional 16,556 shares during the period. Amundi raised its position in shares of Diversified Energy by 4.1% during the first quarter. Amundi now owns 50,406 shares of the company’s stock worth $654,000 after purchasing an additional 1,995 shares during the period. AQR Capital Management LLC bought a new position in shares of Diversified Energy in the 1st quarter worth $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Diversified Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock valued at $377,000 after purchasing an additional 1,170 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Diversified Energy by 177.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock valued at $16,060,000 after purchasing an additional 760,428 shares in the last quarter. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Stock Performance

Shares of NYSE:DEC traded up $0.07 during trading on Monday, reaching $13.23. 517,558 shares of the company traded hands, compared to its average volume of 499,550. Diversified Energy has a 52 week low of $10.08 and a 52 week high of $17.03. The company’s 50 day moving average is $13.65 and its two-hundred day moving average is $14.20.

Diversified Energy (NYSE:DEC) last announced its quarterly earnings data on Friday, February 6th. The company reported $2.28 earnings per share (EPS) for the quarter. As a group, equities analysts anticipate that Diversified Energy will post 0.18 EPS for the current fiscal year.

Diversified Energy Company Profile

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.