Diversified Energy (NYSE:DEC) Shares Up 4.9% – Should You Buy?

Diversified Energy Company PLC (NYSE:DEC)’s share price traded up 4.9% during trading on Wednesday . The stock traded as high as $11.80 and last traded at $11.77. 272,548 shares were traded during mid-day trading, a decline of 22% from the average session volume of 351,087 shares. The stock had previously closed at $11.22.

Analyst Ratings Changes

Several analysts have recently weighed in on DEC shares. KeyCorp boosted their price objective on shares of 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 target price on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Mizuho started coverage on shares of Diversified Energy in a research report on Thursday, April 10th. They issued an “outperform” rating and a $23.00 price target for the company.

Diversified Energy Stock Down 0.0 %

The firm has a 50 day simple moving average of $13.05 and a two-hundred day simple moving average of $14.18.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 9.87%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in Diversified Energy by 11.7% during the fourth quarter. Mackenzie Financial Corp now owns 100,797 shares of the company’s stock worth $1,693,000 after acquiring an additional 10,594 shares during the period. Woodline Partners LP acquired a new stake in shares of Diversified Energy in the fourth quarter valued at about $6,274,000. Thomist Capital Management LP acquired a new position in Diversified Energy during the fourth quarter worth about $547,000. ProShare Advisors LLC purchased a new position in Diversified Energy in the fourth quarter valued at about $222,000. Finally, Quantinno Capital Management LP lifted its position in shares of Diversified Energy by 197.4% during the 4th quarter. Quantinno Capital Management LP now owns 43,815 shares of the company’s stock valued at $736,000 after acquiring an additional 29,084 shares during the period. 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.