Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC) was the target of a large drop in short interest in January. As of January 30th, there was short interest totaling 2,401,784 shares, a drop of 16.5% from the January 15th total of 2,874,860 shares. Based on an average trading volume of 562,756 shares, the days-to-cover ratio is presently 4.3 days. Based on an average trading volume of 562,756 shares, the days-to-cover ratio is presently 4.3 days.

Insider Buying and Selling

In other Diversified Energy news, Director Randall S. Wade sold 2,100,000 shares of Diversified Energy stock in a transaction on Friday, January 9th. The shares were sold at an average price of $13.28, for a total transaction of $27,888,000.00. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of Diversified Energy

A number of hedge funds have recently modified their holdings of DEC. CWM LLC boosted its stake in Diversified Energy by 273.1% during the 2nd quarter. CWM LLC now owns 1,787 shares of the company’s stock valued at $26,000 after purchasing an additional 1,308 shares during the last quarter. Quarry LP grew its holdings in shares of Diversified Energy by 1,595.2% in the third quarter. Quarry LP now owns 2,119 shares of the company’s stock worth $30,000 after acquiring an additional 1,994 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Diversified Energy in the fourth quarter worth approximately $32,000. Ensign Peak Advisors Inc bought a new position in Diversified Energy in the 4th quarter worth $35,000. Finally, State of Alaska Department of Revenue purchased a new position in Diversified Energy during the third quarter valued at $47,000. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Up 0.5%

NYSE:DEC traded up $0.07 during mid-day trading on Monday, reaching $13.23. 517,558 shares of the company’s stock traded hands, compared to its average volume of 499,550. The company has a 50 day moving average price of $13.65 and a 200-day moving average price of $14.20. Diversified Energy has a 12-month low of $10.08 and a 12-month high of $17.03.

Diversified Energy (NYSE:DEC) last released its quarterly earnings results on Friday, February 6th. The company reported $2.28 earnings per share for the quarter. Sell-side analysts anticipate that Diversified Energy will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

DEC has been the subject of several research analyst reports. William Blair initiated coverage on Diversified Energy in a research note on Tuesday, November 18th. They set an “outperform” rating for the company. Johnson Rice raised shares of Diversified Energy from an “accumulate” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $23.00 in a research note on Friday, December 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, January 21st. Mizuho raised their price objective on Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.50.

About Diversified Energy

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.