Diversified Energy Company PLC (DEC) - What Are Researchers Saying About This Stock?

Key Points

• Analyst sentiment is moderately bullish: Seven of ten analysts rate Diversified Energy a buy, while three recommend holding the stock. The average 12-month price target is $22.50, above its reported $14.18 share price.
• Recent quarterly results missed expectations: Diversified Energy reported a loss of $0.29 per share versus the expected $0.20 profit, while revenue of $442.3 million fell short of the $493.0 million estimate.
• The company offers a high dividend yield: Diversified Energy announced a quarterly dividend of $0.29, equivalent to $1.16 annually and an 8.2% yield, with a payout ratio of 35.91%.

Shares of Diversified Energy Company PLC (NYSE:DEC - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $22.50.

Several equities analysts have recently commented on DEC shares. Citigroup reduced their target price on Diversified Energy from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Mizuho set a $32.00 price target on shares of Diversified Energy in a research note on Monday, August 10th. Jefferies Financial Group raised shares of Diversified Energy to a "hold" rating in a report on Friday, July 10th. 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. Finally, Zacks Research downgraded shares of Diversified Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th.

Diversified Energy Stock Up 2.6%

Shares of NYSE DEC opened at $14.18 on Tuesday. Diversified Energy has a 1 year low of $12.33 and a 1 year high of $18.90. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 4.39 and a beta of -0.28. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.57 and a current ratio of 0.57. The stock's 50-day simple moving average is $14.34 and its 200-day simple moving average is $14.64.

Diversified Energy (NYSE:DEC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate 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. As a group, equities analysts anticipate that Diversified Energy will post 2.82 earnings per share for the current fiscal year.

Diversified Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 2nd will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.16 annualized dividend and a dividend yield of 8.2%. Diversified Energy's payout ratio is presently 35.91%.

Hedge Funds Weigh In On Diversified Energy

Several large investors have recently modified their holdings of the stock. Artemis Investment Management LLP raised its position in shares of Diversified Energy by 8.3% during the 3rd quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company's stock valued at $82,383,000 after acquiring an additional 470,823 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Diversified Energy by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 617,728 shares of the company's stock worth $10,773,000 after purchasing an additional 26,978 shares during the period. First Trust Advisors LP acquired a new position in Diversified Energy in the first quarter worth $10,546,000. Bank of America Corp DE boosted its holdings in Diversified Energy by 57.8% in the first quarter. Bank of America Corp DE now owns 304,613 shares of the company's stock worth $5,312,000 after purchasing an additional 111,625 shares during the period. Finally, Walleye Capital LLC increased its stake in Diversified Energy by 275.1% during the first quarter. Walleye Capital LLC now owns 230,694 shares of the company's stock valued at $4,023,000 after purchasing an additional 169,198 shares during the last quarter. Institutional investors own 26.51% of the company's stock.

About Diversified Energy

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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