Diversified Energy Company PLC $DEC Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System lifted its position in shares of Diversified Energy Company PLC (NYSE:DEC) by 1,504.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,385 shares of the company’s stock after purchasing an additional 57,559 shares during the period. California State Teachers Retirement System’s holdings in Diversified Energy were worth $1,071,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. EIG Asset Management LLC purchased a new stake in Diversified Energy during the 4th quarter worth about $139,031,000. Ameriprise Financial Inc. increased its holdings in shares of Diversified Energy by 11.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock valued at $57,567,000 after acquiring an additional 435,222 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Diversified Energy during the 4th quarter worth about $46,334,000. Artemis Investment Management LLP boosted its holdings 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 valued at $37,555,000 after purchasing an additional 1,384,073 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings 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 purchasing an additional 767,378 shares in the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Mizuho set a $32.00 price objective on shares of Diversified Energy in a research report on Monday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Diversified Energy in a research note on Tuesday, August 4th. Zacks Research cut shares of Diversified Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Jefferies Financial Group upgraded shares of Diversified Energy to a “hold” rating in a research note on Friday, July 10th. Finally, Citigroup dropped their price objective on Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Diversified Energy has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Diversified Energy Stock Up 1.0%

Diversified Energy stock opened at $14.31 on Friday. The stock has a 50 day moving average of $13.49 and a two-hundred day moving average of $14.49. Diversified Energy Company PLC has a twelve month low of $12.33 and a twelve month high of $18.90. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.43 and a beta of -0.38. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.96.

Diversified Energy (NYSE:DEC) last released its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The firm had revenue of $442.30 million during the quarter, compared to analyst estimates of $492.98 million. As a group, research analysts expect that Diversified Energy Company PLC will post 2.83 earnings per share for the current year.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Wednesday, December 2nd. Diversified Energy’s payout ratio is currently 35.91%.

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.