Diversified Energy (NYSE:DEC) Posts Quarterly Earnings Results

Diversified Energy (NYSE:DEC) posted its earnings results on Friday. The company reported $2.28 EPS for the quarter, FiscalAI reports.

Diversified Energy Stock Performance

DEC stock traded up $0.61 during trading on Friday, reaching $13.41. 583,103 shares of the company were exchanged, compared to its average volume of 578,711. The stock’s 50 day moving average price is $13.87 and its 200 day moving average price is $14.28. Diversified Energy has a 52-week low of $10.08 and a 52-week high of $17.24. The company has a market cap of $646.63 million, a P/E ratio of 9.12 and a beta of 0.51.

Insider Activity

In other news, Director Randall S. Wade sold 2,100,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $13.28, for a total transaction of $27,888,000.00. Following the sale, the director owned 7,501,585 shares of the company’s stock, valued at $99,621,048.80. The trade was a 21.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Diversified Energy

Large investors have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of Diversified Energy by 168.8% during the first quarter. Royal Bank of Canada now owns 26,366 shares of the company’s stock worth $356,000 after buying an additional 16,556 shares in the last quarter. Amundi boosted its position in Diversified Energy by 4.1% during the first quarter. Amundi now owns 50,406 shares of the company’s stock worth $654,000 after acquiring an additional 1,995 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Diversified Energy in the 1st quarter worth approximately $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Diversified Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock worth $377,000 after acquiring an additional 1,170 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Diversified Energy by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock valued at $16,060,000 after acquiring an additional 760,428 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Diversified Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Mizuho increased their price target on shares of Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Citigroup dropped their price objective on shares of Diversified Energy from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Zacks Research downgraded shares of Diversified Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.50.

Diversified Energy Company Profile

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.