Citigroup Cuts Diversified Energy (NYSE:DEC) Price Target to $15.00

Diversified Energy (NYSE:DEC) had its price objective reduced by Citigroup from $17.00 to $15.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

DEC has been the topic of several other research reports. William Blair started coverage on Diversified Energy in a report on Tuesday, November 18th. They issued an “outperform” rating on the stock. Wall Street Zen raised shares of Diversified Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings restated a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, January 21st. Zacks Research downgraded shares of Diversified Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Johnson Rice raised Diversified Energy from an “accumulate” rating to a “buy” rating and raised their price objective for the company from $19.00 to $23.00 in a research report on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.50.

Diversified Energy Trading Up 4.8%

Diversified Energy stock opened at $13.41 on Wednesday. The business’s 50 day simple moving average is $13.84 and its 200 day simple moving average is $14.27. Diversified Energy has a 12 month low of $10.08 and a 12 month high of $17.24.

Diversified Energy (NYSE:DEC) last posted its earnings results on Friday, February 6th. The company reported $2.28 earnings per share (EPS) for the quarter. Sell-side analysts expect that Diversified Energy will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Diversified Energy

In other news, Director Randall S. Wade sold 2,100,000 shares of Diversified Energy stock in a transaction dated 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 sale, the director directly owned 7,501,585 shares of the company’s stock, valued at approximately $99,621,048.80. The trade was a 21.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Trading of Diversified Energy

Large investors have recently modified their holdings of the company. Callan Family Office LLC grew its stake in Diversified Energy by 5.8% in the second quarter. Callan Family Office LLC now owns 15,639 shares of the company’s stock valued at $229,000 after purchasing an additional 861 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Diversified Energy by 8.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 11,500 shares of the company’s stock worth $161,000 after buying an additional 863 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Diversified Energy by 10.9% during the 2nd quarter. ProShare Advisors LLC now owns 11,278 shares of the company’s stock worth $165,000 after acquiring an additional 1,105 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Diversified Energy by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock valued at $377,000 after acquiring an additional 1,170 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Diversified Energy by 5.6% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 23,575 shares of the company’s stock valued at $330,000 after acquiring an additional 1,249 shares in the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

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.