Diversified Energy Company PLC (NYSE:DEC) Stock Has Average Price Target of $22.50 According to Analysts

Shares of Diversified Energy Company PLC (NYSE:DEC) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $22.50.

Several research firms recently weighed in on DEC. Weiss Ratings raised Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Truist Financial upped their price objective on Diversified Energy from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Zacks Research cut Diversified Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Mizuho set a $32.00 target price on Diversified Energy in a report on Monday, August 10th. Finally, Jefferies Financial Group raised shares of Diversified Energy to a “hold” rating in a research report on Friday, July 10th.

Diversified Energy Stock Up 1.1%

Shares of DEC opened at $14.05 on Friday. Diversified Energy has a 52 week low of $12.33 and a 52 week high of $18.90. The firm has a market cap of $994.04 million, a P/E ratio of 4.35 and a beta of -0.35. The firm’s 50-day simple moving average is $14.20 and its 200 day simple moving average is $14.75. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.57 and a current ratio of 0.57.

Diversified Energy (NYSE:DEC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.49). The business had revenue of $442.30 million for the quarter, compared to analysts’ expectations of $492.98 million. On average, analysts forecast that Diversified Energy will post 2.82 earnings per share for the current year.

Diversified Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 2nd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $1.16 annualized dividend and a yield of 8.3%. Diversified Energy’s payout ratio is 35.91%.

Institutional Investors Weigh In On Diversified Energy

Institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC bought a new position in Diversified Energy during the 2nd quarter worth $988,000. Arizona State Retirement System lifted its position in shares of Diversified Energy by 6.9% during the 2nd quarter. Arizona State Retirement System now owns 19,483 shares of the company’s stock valued at $270,000 after acquiring an additional 1,261 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Diversified Energy during the 2nd quarter valued at $26,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Diversified Energy during the 2nd quarter worth $259,000. Finally, Versant Capital Management Inc grew its holdings in shares of Diversified Energy by 197.0% during the 2nd quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock worth $68,000 after purchasing an additional 3,256 shares in the last quarter. 26.51% of the stock is currently owned by institutional investors.

About Diversified Energy

Diversified Energy Company plc is an energy company focused on the acquisition, operation and management of mature onshore oil and natural gas assets. The company owns and operates producing wells, gathering systems, processing facilities and related infrastructure, primarily in the United States.

Its operations are concentrated in U.S. regions including the Appalachian Basin and central states. Diversified Energy seeks to extend the productive life of acquired assets through operational efficiencies, infrastructure management and well maintenance, while also addressing well plugging, abandonment and environmental obligations associated with its portfolio.

The company was founded in 2001 and was formerly known as Diversified Gas & Oil plc before adopting the Diversified Energy Company name.