Diversified Energy (NYSE:DEC) Rating Increased to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Diversified Energy (NYSE:DEC) to a hold rating in a research note released on Friday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. KeyCorp raised their price objective on Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Weiss Ratings lowered Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Zacks Research downgraded Diversified Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Truist Financial decreased their price target on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Finally, Stephens started coverage on shares of Diversified Energy in a report on Wednesday, April 15th. They set an “overweight” rating and a $24.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.83.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $13.35 on Friday. The company has a market cap of $965.11 million, a price-to-earnings ratio of 3.79 and a beta of -0.40. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a 50 day simple moving average of $14.45 and a 200 day simple moving average of $14.51. Diversified Energy has a one year low of $12.33 and a one year high of $18.90.

Diversified Energy Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 8.7%. Diversified Energy’s dividend payout ratio (DPR) is 32.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DEC. Royal Bank of Canada grew its holdings in Diversified Energy by 0.5% in the first quarter. Royal Bank of Canada now owns 140,160 shares of the company’s stock worth $2,445,000 after purchasing an additional 748 shares during the period. Quadrant Capital Group LLC increased its stake in Diversified Energy by 8.1% in the third quarter. Quadrant Capital Group LLC now owns 11,500 shares of the company’s stock valued at $161,000 after purchasing an additional 863 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 purchasing an additional 1,170 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Diversified Energy by 7.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,333 shares of the company’s stock valued at $280,000 after purchasing an additional 1,399 shares during the period. Finally, Quarry LP boosted its position in shares of Diversified Energy by 1,595.2% during the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock worth $30,000 after purchasing an additional 1,994 shares in the last quarter. 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.