Diversified Energy (NYSE:DEC) Shares Up 3.9% – Time to Buy?

Diversified Energy Company PLC (NYSE:DEC)’s share price rose 3.9% during mid-day trading on Thursday . The stock traded as high as $13.83 and last traded at $13.80. Approximately 303,598 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 479,124 shares. The stock had previously closed at $13.28.

Wall Street Analyst Weigh In

DEC has been the topic of several recent analyst reports. KeyCorp boosted their target price on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Truist Financial lifted their target price on shares of 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 firm has a 50 day moving average of $14.81 and a 200-day moving average of $14.07.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 8.76%.

Institutional Investors Weigh In On Diversified Energy

A number of institutional investors have recently modified their holdings of DEC. FMR LLC bought a new position in Diversified Energy during the third quarter valued at approximately $31,000. Signaturefd LLC raised its holdings in Diversified Energy by 181.8% during the fourth quarter. Signaturefd LLC now owns 7,763 shares of the company’s stock valued at $130,000 after buying an additional 5,008 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Diversified Energy in the third quarter worth about $163,000. Quantinno Capital Management LP bought a new stake in shares of Diversified Energy during the 3rd quarter worth about $167,000. Finally, ProShare Advisors LLC bought a new position in shares of Diversified Energy in the 4th quarter valued at approximately $222,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

Diversified Energy Company Profile

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.