Brokerages Set Diversified Energy Company PLC (NYSE:DEC) PT at $21.20

Shares of Diversified Energy Company PLC (NYSE:DEC) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.80.

A number of research analysts have weighed in on the stock. Truist Financial assumed coverage on shares of Diversified Energy in a research note on Tuesday, March 24th. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings upgraded shares of Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Citigroup upped their price objective on Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research note 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, KeyCorp raised their target price on Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday.

Diversified Energy Stock Up 2.1%

DEC stock opened at $17.09 on Friday. The stock has a market cap of $1.24 billion, a P/E ratio of 11.63 and a beta of -0.23. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.73. The stock’s fifty day simple moving average is $14.41 and its two-hundred day simple moving average is $14.11. Diversified Energy has a 1-year low of $10.08 and a 1-year high of $18.90.

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

Diversified Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Friday, May 29th. Diversified Energy’s dividend payout ratio is presently 78.91%.

Insiders Place Their Bets

In other Diversified Energy 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 transaction of $27,888,000.00. Following the completion of the transaction, the director owned 7,501,585 shares of the company’s stock, valued at $99,621,048.80. The trade was a 21.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Diversified Energy

Hedge funds have recently bought and sold shares of the company. EIG Asset Management LLC purchased a new stake in Diversified Energy in the 4th quarter worth approximately $139,031,000. Ameriprise Financial Inc. purchased a new position in shares of Diversified Energy during the 2nd quarter valued at $53,894,000. Jupiter Asset Management Ltd. purchased a new position in shares of Diversified Energy during the 4th quarter valued at $46,334,000. Man Group plc bought a new position in shares of Diversified Energy in the fourth quarter worth $27,463,000. Finally, Tejara Capital Ltd raised its position in shares of Diversified Energy by 1,903.1% in the second quarter. Tejara Capital Ltd now owns 1,905,333 shares of the company’s stock worth $27,951,000 after buying an additional 1,810,214 shares in the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

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.