Diversified Energy (NYSE:DEC) Stock Price Up 8.7% After Analyst Upgrade

Diversified Energy Company PLC (NYSE:DEC) shot up 8.7% during trading on Tuesday after Truist Financial upgraded the stock to a strong-buy rating. The stock traded as high as $17.18 and last traded at $17.00. 721,752 shares were traded during trading, a decline of 22% from the average session volume of 925,129 shares. The stock had previously closed at $15.64.

DEC has been the topic of several other research reports. Johnson Rice raised shares of Diversified Energy from an “accumulate” rating to a “buy” rating and boosted their price target for the company from $19.00 to $23.00 in a research report on Friday, December 5th. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Zacks Research lowered shares of Diversified Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Citigroup boosted their target price on shares of Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Finally, Mizuho increased their target price on Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.20.

Insider Buying and Selling at Diversified Energy

In other news, Director Randall S. Wade sold 2,100,000 shares of the company’s stock in a transaction dated 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 directly owned 7,501,585 shares in the company, valued at $99,621,048.80. This represents a 21.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.

Institutional Trading of Diversified Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP lifted its stake in Diversified Energy by 1,595.2% in the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock worth $30,000 after purchasing an additional 1,994 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Diversified Energy during the 4th quarter valued at $32,000. Ensign Peak Advisors Inc bought a new position in shares of Diversified Energy in the fourth quarter worth $35,000. State of Alaska Department of Revenue bought a new position in shares of Diversified Energy in the third quarter worth $47,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Diversified Energy by 261.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock worth $74,000 after buying an additional 3,666 shares in the last quarter. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Up 4.4%

The company has a market cap of $1.32 billion, a PE ratio of 11.80 and a beta of 0.46. The stock has a 50-day moving average of $13.82 and a 200-day moving average of $14.01. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.73.

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

Diversified Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 6.7%. Diversified Energy’s payout ratio is presently 78.91%.

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.