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

Castalian Partners LLC acquired a new stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $1,680,000. Diversified Energy makes up about 0.9% of Castalian Partners LLC's holdings, making the stock its 18th biggest position. Castalian Partners LLC owned 0.21% of Diversified Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DEC. Vanguard Group Inc. raised its stake in shares of Diversified Energy by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company's stock valued at $46,319,000 after acquiring an additional 468,312 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Diversified Energy during the fourth quarter valued at approximately $5,979,000. Barclays PLC raised its position in shares of Diversified Energy by 166.9% in 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 period. Yaupon Capital Management LP acquired a new stake in shares of Diversified Energy in the fourth quarter worth $2,627,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Diversified Energy by 801.2% during the 4th quarter. Russell Investments Group Ltd. now owns 50,504 shares of the company's stock worth $848,000 after buying an additional 44,900 shares during the period. 26.51% of the stock is currently owned by institutional investors and hedge funds.

Diversified Energy Trading Down 0.9 %

Shares of DEC traded down $0.12 on Monday, reaching $12.92. 100,766 shares of the company's stock were exchanged, compared to its average volume of 471,398. The business has a 50 day moving average price of $12.32 and a two-hundred day moving average price of $14.26. 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. Investors of record on Friday, May 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.98%.

Wall Street Analyst Weigh In

DEC has been the topic of several recent analyst reports. Mizuho started coverage on shares of Diversified Energy in a report on Thursday, April 10th. They issued an "outperform" rating and a $23.00 target price on the stock. KeyCorp lowered their price objective on Diversified Energy from $21.00 to $17.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Truist Financial increased their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Citigroup assumed coverage on shares of Diversified Energy in a report on Tuesday, April 29th. They issued a "buy" rating and a $16.00 price target for the company.

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.