Citigroup Cuts Diversified Energy (NYSE:DEC) Price Target to $16.00

Key Points

• Citigroup cut its price target on Diversified Energy from $19 to $16, though it kept a Buy rating on the stock. The new target still implies about 20% upside from the current share price.
• Wall Street sentiment remains mixed but generally constructive: several firms recently adjusted ratings and targets, and the stock currently has a Moderate Buy consensus with an average price target of $21.67.
• Shares of Diversified Energy were trading around $13.29, near the lower end of their 52-week range of $12.33 to $18.90. The company also showed notable leverage, with a debt-to-equity ratio of 3.57.

Diversified Energy (NYSE:DEC - Get Free Report) had its price target reduced by equities research analysts at Citigroup from $19.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target would indicate a potential upside of 20.39% from the company's current price.

Several other brokerages have also recently weighed in on DEC. KeyCorp increased their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, April 2nd. Stephens started coverage on shares of Diversified Energy in a research note on Wednesday, April 15th. They set an "overweight" rating and a $24.00 price target on the stock. Weiss Ratings lowered Diversified Energy from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Zacks Research cut Diversified Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Jefferies Financial Group upgraded Diversified Energy to a "hold" rating in a research report on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.67.

Diversified Energy Stock Performance

Shares of DEC traded up $0.15 during trading hours on Tuesday, hitting $13.29. The stock had a trading volume of 313,033 shares, compared to its average volume of 966,367. The firm has a market capitalization of $961.13 million, a PE ratio of 3.78 and a beta of -0.40. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.47 and a quick ratio of 0.47. Diversified Energy has a 12 month low of $12.33 and a 12 month high of $18.90. The stock has a fifty day moving average price of $14.16 and a 200 day moving average price of $14.47.

Hedge Funds Weigh In On Diversified Energy

A number of hedge funds have recently modified their holdings of DEC. Quarry LP raised its position in shares of Diversified Energy by 1,595.2% during the 3rd quarter. Quarry LP now owns 2,119 shares of the company's stock valued at $30,000 after purchasing an additional 1,994 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Diversified Energy in the 4th quarter worth $32,000. Ensign Peak Advisors Inc bought a new position in Diversified Energy in the 4th quarter worth $35,000. Versant Capital Management Inc increased its stake in Diversified Energy by 197.0% in the 2nd quarter. Versant Capital Management Inc now owns 4,909 shares of the company's stock worth $68,000 after buying an additional 3,256 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Diversified Energy by 261.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company's stock worth $74,000 after buying an additional 3,666 shares in the last quarter. 26.51% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.