Truist Financial Upgrades Diversified Energy (NYSE:DEC) to Strong-Buy

Diversified Energy (NYSE:DEC) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on DEC. Weiss Ratings raised Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Mizuho upped their price target on Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Citigroup raised their price objective on Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Zacks Research cut Diversified Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.20.

Diversified Energy Price Performance

Shares of Diversified Energy stock opened at $16.65 on Monday. 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 company has a market cap of $1.27 billion, a PE ratio of 11.32 and a beta of 0.46. The firm has a fifty day moving average price of $13.73 and a two-hundred day moving average price of $13.98. Diversified Energy has a fifty-two week low of $10.08 and a fifty-two week high of $17.22.

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

Insider Activity at Diversified Energy

In other news, Director Randall S. Wade sold 2,100,000 shares of the company’s stock in a transaction dated 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 sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Diversified Energy

Institutional investors have recently added to or reduced their stakes in the company. EIG Asset Management LLC acquired a new position in Diversified Energy in the fourth quarter valued at about $139,031,000. Ameriprise Financial Inc. acquired a new stake in shares of Diversified Energy during the second quarter worth approximately $53,894,000. Jupiter Asset Management Ltd. bought a new position in shares of Diversified Energy in the fourth quarter valued at approximately $46,334,000. Man Group plc bought a new position in shares of Diversified Energy in the fourth quarter valued at approximately $27,463,000. Finally, Tejara Capital Ltd boosted its holdings in shares of Diversified Energy by 1,903.1% in the 2nd quarter. Tejara Capital Ltd now owns 1,905,333 shares of the company’s stock worth $27,951,000 after acquiring an additional 1,810,214 shares in the last quarter. 26.51% of the stock is owned by institutional investors.

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.