Diversified Energy (NYSE:DEC) Trading Down 6.1% – Should You Sell?

Shares of Diversified Energy Company PLC (NYSE:DEC) traded down 6.1% on Wednesday . The company traded as low as $15.88 and last traded at $15.70. 89,462 shares were traded during trading, a decline of 58% from the average session volume of 213,149 shares. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. KeyCorp boosted their price objective on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial boosted their price objective on Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, January 6th.

Diversified Energy Price Performance

The business has a 50-day simple moving average of $16.39 and a 200 day simple moving average of $14.14.

Institutional Investors Weigh In On Diversified Energy

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in Diversified Energy by 1.7% during the fourth quarter. Invesco Ltd. now owns 39,195 shares of the company’s stock worth $658,000 after purchasing an additional 638 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Diversified Energy by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,748 shares of the company’s stock worth $449,000 after purchasing an additional 934 shares during the period. Wells Fargo & Company MN grew its stake in Diversified Energy by 4.1% during the fourth quarter. Wells Fargo & Company MN now owns 27,287 shares of the company’s stock worth $458,000 after purchasing an additional 1,085 shares during the period. MetLife Investment Management LLC boosted its holdings in Diversified Energy by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 29,267 shares of the company’s stock worth $492,000 after acquiring an additional 1,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Diversified Energy by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock worth $1,291,000 after acquiring an additional 1,910 shares in the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

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.