Diversified Energy Company PLC (NYSE:DEC) Given Average Recommendation of “Moderate Buy” by Brokerages

Diversified Energy Company PLC (NYSE:DEC) has been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $22.25.

A number of analysts have weighed in on DEC shares. Mizuho reduced their price target on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Wall Street Zen raised shares of Diversified Energy from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Citigroup increased their price target on shares of Diversified Energy from $16.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Diversified Energy in a report on Saturday, September 27th.

Diversified Energy Trading Up 3.5%

NYSE:DEC opened at $13.88 on Friday. Diversified Energy has a 1 year low of $10.08 and a 1 year high of $17.70. The firm’s fifty day simple moving average is $15.03 and its 200 day simple moving average is $14.11.

Diversified Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 dividend on an annualized basis and a yield of 8.4%.

Hedge Funds Weigh In On Diversified Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DEC. Bank of America Corp DE lifted its holdings in shares of Diversified Energy by 36.0% during the 4th quarter. Bank of America Corp DE now owns 75,382 shares of the company’s stock worth $1,266,000 after acquiring an additional 19,972 shares during the period. Artemis Investment Management LLP lifted its holdings in shares of Diversified Energy by 15.8% during the 1st quarter. Artemis Investment Management LLP now owns 412,027 shares of the company’s stock worth $5,571,000 after acquiring an additional 56,117 shares during the period. Mraz Amerine & Associates Inc. lifted its holdings in shares of Diversified Energy by 16.6% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 132,341 shares of the company’s stock worth $1,779,000 after acquiring an additional 18,846 shares during the period. Summit X LLC bought a new position in shares of Diversified Energy during the 1st quarter worth about $140,000. Finally, Bailard Inc. bought a new position in shares of Diversified Energy during the 1st quarter worth about $285,000. 26.51% of the stock is owned by institutional investors.

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.