Diversified Energy (NYSE:DEC) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Diversified Energy from “hold” to “strong buy.” Analysts overall rate the stock “Moderate Buy,” with a consensus price target of $22.50.
• DEC shares opened at $14.91, within a 52-week range of $12.33 to $18.90. The company recently reported a quarterly EPS loss of $0.29, missing the $0.20 consensus estimate, while revenue of $442.3 million also fell short of expectations.
• Institutional ownership stands at 26.51%, with several major investors—including Bank of America, First Trust Advisors and Walleye Capital—recently increasing their positions.

Diversified Energy (NYSE:DEC - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday, Zacks reports.

Several other research firms also recently weighed in on DEC. Mizuho set a $32.00 target price on shares of Diversified Energy in a research note on Monday, August 10th. Jefferies Financial Group upgraded shares of Diversified Energy to a "hold" rating in a research note on Friday, July 10th. Truist Financial upped their price target on shares of Diversified Energy from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Citigroup cut their price objective on shares of Diversified Energy from $19.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of Diversified Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.50.

Diversified Energy Stock Performance

Shares of DEC opened at $14.91 on Monday. The business has a 50-day moving average of $14.37 and a 200 day moving average of $14.62. Diversified Energy has a fifty-two week low of $12.33 and a fifty-two week high of $18.90. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.57 and a quick ratio of 0.57.

Diversified Energy (NYSE:DEC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $442.30 million during the quarter, compared to analyst estimates of $492.98 million. Analysts forecast that Diversified Energy will post 2.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of Diversified Energy by 57.8% during the 1st quarter. Bank of America Corp DE now owns 304,613 shares of the company's stock valued at $5,312,000 after purchasing an additional 111,625 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Diversified Energy in the first quarter worth $10,546,000. Walleye Capital LLC raised its position in shares of Diversified Energy by 275.1% in the first quarter. Walleye Capital LLC now owns 230,694 shares of the company's stock worth $4,023,000 after buying an additional 169,198 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of Diversified Energy by 8.3% in the third quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company's stock worth $82,383,000 after buying an additional 470,823 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Diversified Energy by 1,504.4% in the first quarter. California State Teachers Retirement System now owns 61,385 shares of the company's stock worth $1,071,000 after buying an additional 57,559 shares in the last quarter. Institutional investors own 26.51% of the company's stock.

Diversified Energy Company Profile

Diversified Energy Company plc is an independent energy company that owns and operates a portfolio of mature, producing oil and natural gas wells in the United States. The company focuses on acquiring long-life conventional assets and managing them through their full operating lifecycle, with activities spanning production, maintenance, infrastructure management and well retirement.

The company's operations are concentrated in established U.S. onshore producing regions, including the Appalachian, Central and Rockies areas.

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