Diversified Energy Company PLC (NYSE:DEC) Receives Average Recommendation of “Buy” from Brokerages

Shares of Diversified Energy Company PLC (NYSE:DEC) have received a consensus recommendation of “Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $21.8333.

A number of research analysts have recently commented on the stock. Citigroup boosted their price target on shares of Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Truist Financial dropped their price objective on Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Weiss Ratings cut Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. KeyCorp upped their target price on Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, Zacks Research raised Diversified Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 25th.

Institutional Investors Weigh In On Diversified Energy

Several hedge funds have recently bought and sold shares of the stock. EIG Asset Management LLC bought a new position in shares of Diversified Energy in the 4th quarter worth $139,031,000. Ameriprise Financial Inc. lifted its holdings in shares of Diversified Energy by 11.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock worth $57,567,000 after acquiring an additional 435,222 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in Diversified Energy in the fourth quarter worth $46,334,000. Artemis Investment Management LLP grew its position in Diversified Energy by 114.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock worth $37,555,000 after acquiring an additional 1,384,073 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in Diversified Energy by 47.6% in the third quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock valued at $33,333,000 after acquiring an additional 767,378 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Stock Performance

Diversified Energy stock opened at $14.30 on Friday. Diversified Energy has a 1-year low of $12.33 and a 1-year high of $18.90. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.57. The firm has a market capitalization of $1.03 billion, a PE ratio of 4.06 and a beta of -0.40. The firm’s 50 day simple moving average is $14.67 and its 200 day simple moving average is $14.52.

Diversified Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, August 28th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Friday, August 28th. Diversified Energy’s dividend payout ratio is 32.95%.

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.