Diversified Energy (NYSE:DEC) Stock Price Down 4.5% – What’s Next?

Shares of Diversified Energy Company PLC (NYSE:DEC) fell 4.5% on Thursday . The stock traded as low as $13.79 and last traded at $13.7010. 425,511 shares traded hands during trading, a decline of 53% from the average session volume of 902,548 shares. The stock had previously closed at $14.34.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DEC. Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Zacks Research upgraded Diversified Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 25th. Truist Financial lowered their price objective on Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings cut shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Stephens initiated coverage on Diversified Energy in a report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $21.83.

Diversified Energy Stock Down 4.2%

The firm’s fifty day simple moving average is $15.67 and its 200 day simple moving average is $14.71. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.57. The company has a market cap of $993.50 million, a price-to-earnings ratio of 3.89 and a beta of -0.46.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, August 28th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend is Friday, August 28th. Diversified Energy’s dividend payout ratio (DPR) is 32.95%.

Institutional Trading of Diversified Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. EIG Asset Management LLC purchased a new stake in Diversified Energy in the fourth quarter valued at approximately $139,031,000. Ameriprise Financial Inc. lifted its position in Diversified Energy by 11.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock worth $57,567,000 after acquiring an additional 435,222 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Diversified Energy in the 4th quarter valued at approximately $46,334,000. Artemis Investment Management LLP grew its stake in shares of Diversified Energy by 114.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock valued at $37,555,000 after purchasing an additional 1,384,073 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of Diversified Energy by 47.6% in the third quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock valued at $33,333,000 after purchasing an additional 767,378 shares during the period. Institutional investors and hedge funds 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.