Truist Financial Cuts Diversified Energy (NYSE:DEC) Price Target to $20.00

Diversified Energy (NYSE:DEC) had its price target lowered by Truist Financial from $22.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 21.80% from the stock’s previous close.

Several other research firms have also recently commented on DEC. Citigroup raised their target price on shares of Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Zacks Research upgraded shares of Diversified Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Mizuho raised their price objective on shares of Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Weiss Ratings raised Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Finally, Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.40.

Diversified Energy Stock Performance

Shares of DEC stock opened at $16.42 on Thursday. Diversified Energy has a 12-month low of $10.54 and a 12-month high of $18.90. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 11.19 and a beta of -0.23. The business has a 50 day simple moving average of $14.72 and a 200 day simple moving average of $14.17.

Diversified Energy (NYSE:DEC) last released its quarterly earnings results on Friday, February 6th. The company reported $2.28 earnings per share (EPS) for the quarter. On average, equities research analysts anticipate that Diversified Energy will post 0.18 EPS for the current year.

Insider Buying and Selling at Diversified Energy

In related news, Director Randall S. Wade sold 2,100,000 shares of Diversified Energy stock in a transaction on Friday, January 9th. The stock was sold at an average price of $13.28, for a total value of $27,888,000.00. Following the transaction, the director directly owned 7,501,585 shares in the company, valued at $99,621,048.80. The trade was a 21.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Trading of Diversified Energy

Hedge funds have recently bought and sold shares of the company. Quarry LP increased its position in shares of Diversified Energy by 1,595.2% in the third quarter. Quarry LP now owns 2,119 shares of the company’s stock worth $30,000 after acquiring an additional 1,994 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Diversified Energy in the 4th quarter valued at approximately $32,000. Ensign Peak Advisors Inc acquired a new position in Diversified Energy in the 4th quarter worth approximately $35,000. State of Alaska Department of Revenue purchased a new position in Diversified Energy during the 3rd quarter worth approximately $47,000. Finally, Tower Research Capital LLC TRC raised its stake in Diversified Energy by 261.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock valued at $74,000 after purchasing an additional 3,666 shares during the period. 26.51% of the stock is owned by hedge funds and other institutional investors.

About Diversified Energy

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.