Sei Investments Co. Reduces Position in Diversified Energy Company PLC $DEC

Sei Investments Co. decreased its holdings in Diversified Energy Company PLC (NYSE:DEC) by 76.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 14,287 shares of the company’s stock after selling 47,651 shares during the period. Sei Investments Co.’s holdings in Diversified Energy were worth $249,000 as of its most recent filing with the SEC.

A number of other institutional investors have also 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 last quarter. Amundi raised its stake in Diversified Energy by 4.1% during the 1st quarter. Amundi now owns 50,406 shares of the company’s stock valued at $654,000 after buying an additional 1,995 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Diversified Energy during the 1st quarter valued at $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 worth $377,000 after buying an additional 1,170 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Diversified Energy by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock worth $16,060,000 after acquiring an additional 760,428 shares during the period. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Wall Street Analyst Weigh In

DEC has been the topic of several research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Diversified Energy in a research report on Tuesday, August 4th. Zacks Research downgraded shares of Diversified Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Truist Financial upped their price objective on Diversified Energy from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Mizuho set a $32.00 price target on Diversified Energy in a research report on Monday, August 10th. Finally, Jefferies Financial Group upgraded shares of Diversified Energy to a “hold” rating in a research note on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Diversified Energy Stock Down 0.1%

NYSE DEC opened at $14.31 on Monday. The company has a market capitalization of $1.01 billion, a P/E ratio of 4.43 and a beta of -0.38. The stock has a 50 day moving average price of $13.49 and a 200-day moving average price of $14.50. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.57 and a current ratio of 0.57. Diversified Energy Company PLC has a one year low of $12.33 and a one year high of $18.90.

Diversified Energy (NYSE:DEC) last announced its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.49). The firm had revenue of $442.30 million for the quarter, compared to analysts’ expectations of $492.98 million. As a group, equities analysts predict that Diversified Energy Company PLC will post 2.83 EPS for the current fiscal year.

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 8.1%. The ex-dividend date is Wednesday, December 2nd. Diversified Energy’s dividend payout ratio is presently 35.91%.

Diversified Energy 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.