Castalian Partners LLC Invests $1.68 Million in Diversified Energy Company PLC (NYSE:DEC)

Castalian Partners LLC acquired a new position in Diversified Energy Company PLC (NYSE:DEC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $1,680,000. Diversified Energy comprises approximately 0.9% of Castalian Partners LLC's holdings, making the stock its 18th largest position. Castalian Partners LLC owned 0.21% of Diversified Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Diversified Energy by 166.9% during the third quarter. Barclays PLC now owns 516,535 shares of the company's stock valued at $5,876,000 after purchasing an additional 322,986 shares during the last quarter. Artemis Investment Management LLP acquired a new position in Diversified Energy in the 4th quarter valued at $5,979,000. Proficio Capital Partners LLC bought a new position in Diversified Energy in the 4th quarter worth $352,000. JPMorgan Chase & Co. lifted its position in Diversified Energy by 31.8% during the 4th quarter. JPMorgan Chase & Co. now owns 130,668 shares of the company's stock worth $2,195,000 after acquiring an additional 31,509 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Diversified Energy during the third quarter valued at about $384,000. Institutional investors own 26.51% of the company's stock.

Diversified Energy Price Performance

Shares of NYSE:DEC traded up $0.42 during midday trading on Friday, reaching $13.03. 253,322 shares of the company's stock were exchanged, compared to its average volume of 359,444. The company's 50 day simple moving average is $12.32 and its two-hundred day simple moving average is $14.22. Diversified Energy Company PLC has a 12 month low of $10.08 and a 12 month high of $17.70.

Diversified Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 8.90%. The ex-dividend date is Friday, May 30th.

Analysts Set New Price Targets

DEC has been the topic of a number of recent analyst reports. Citigroup assumed coverage on Diversified Energy in a research note on Tuesday. They issued a "buy" rating and a $16.00 price objective on the stock. Mizuho initiated coverage on Diversified Energy in a research report on Thursday, April 10th. They issued an "outperform" rating and a $23.00 price objective for the company. KeyCorp lowered their price objective on shares of Diversified Energy from $21.00 to $17.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Truist Financial upped their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the company a "buy" rating in a research note on Monday, January 6th.

About Diversified Energy

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.