Balyasny Asset Management L.P. Acquires 203,700 Shares of Diversified Energy Company PLC (NYSE:DEC)

Balyasny Asset Management L.P. lifted its holdings in Diversified Energy Company PLC (NYSE:DEC - Free Report) by 112.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 384,689 shares of the company's stock after purchasing an additional 203,700 shares during the quarter. Balyasny Asset Management L.P. owned about 0.80% of Diversified Energy worth $6,463,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DEC. Vanguard Group Inc. boosted its stake in Diversified Energy by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company's stock worth $46,319,000 after purchasing an additional 468,312 shares during the period. Artemis Investment Management LLP acquired a new stake in Diversified Energy in the 4th quarter valued at $5,979,000. Barclays PLC boosted its stake in shares of Diversified Energy by 166.9% during the 3rd quarter. Barclays PLC now owns 516,535 shares of the company's stock worth $5,876,000 after buying an additional 322,986 shares during the last quarter. Yaupon Capital Management LP bought a new position in shares of Diversified Energy in the 4th quarter valued at about $2,627,000. Finally, Castalian Partners LLC bought a new position in Diversified Energy in the fourth quarter valued at approximately $1,680,000. Institutional investors own 26.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. KeyCorp dropped their price target on shares of Diversified Energy from $21.00 to $17.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Mizuho assumed coverage on shares of Diversified Energy in a research note on Thursday, April 10th. They issued an "outperform" rating and a $23.00 target price for the company. Finally, Citigroup initiated coverage on Diversified Energy in a report on Tuesday, April 29th. They set a "buy" rating and a $16.00 price target for the company.

Diversified Energy Stock Up 5.4%

Shares of NYSE DEC traded up $0.72 during mid-day trading on Tuesday, reaching $13.98. The company had a trading volume of 605,437 shares, compared to its average volume of 367,143. The business's 50-day simple moving average is $12.33 and its 200 day simple moving average is $14.32. Diversified Energy Company PLC has a one year low of $10.08 and a one year high of $17.70.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.30%.

Diversified Energy Profile

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.