Diversified Energy Company PLC (NYSE:DEC) Sees Significant Drop in Short Interest

Diversified Energy Company PLC (NYSE:DEC) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 1,660,000 shares, a decline of 7.8% from the November 15th total of 1,800,000 shares. Approximately 3.7% of the company’s shares are short sold. Based on an average daily volume of 271,800 shares, the short-interest ratio is presently 6.1 days.

Diversified Energy Trading Down 1.8 %

NYSE:DEC opened at $15.66 on Wednesday. Diversified Energy has a 52 week low of $10.54 and a 52 week high of $18.05. The company’s 50 day moving average price is $13.93 and its 200-day moving average price is $13.62.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.41%. The ex-dividend date is Friday, February 28th.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DEC. KeyCorp assumed coverage on shares of Diversified Energy in a research report on Wednesday, August 28th. They set an “overweight” rating and a $18.00 price target for the company. Truist Financial increased their target price on Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, November 18th.

Institutional Investors Weigh In On Diversified Energy

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in Diversified Energy during the 2nd quarter valued at about $1,983,000. Mraz Amerine & Associates Inc. raised its stake in Diversified Energy by 1.9% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 108,279 shares of the company’s stock valued at $1,461,000 after buying an additional 2,044 shares during the last quarter. Rhumbline Advisers purchased a new stake in Diversified Energy during the 2nd quarter valued at $927,000. Jupiter Asset Management Ltd. lifted its holdings in shares of Diversified Energy by 77.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after buying an additional 1,150,794 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Diversified Energy in the 2nd quarter worth $189,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

About Diversified Energy

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.