Diversified Energy Company PLC (NYSE:DEC) Receives Average Rating of "Buy" from Brokerages

Key Points

• Diversified Energy Company PLC (NYSE:DEC) has received an average rating of "Buy" from four research firms, with a 12-month price target of $22.25.
• The company is set to pay a quarterly dividend of $0.29 per share on December 31, 2023, yielding 8.5% annually.
• Diversified Energy's stock has recently traded down by 1.5% to $13.68, with a one-year trading range between $10.08 and $17.70.

Shares of Diversified Energy Company PLC (NYSE:DEC - Get Free Report) have been given an average rating of "Buy" by the four research firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $22.25.

A number of analysts have issued reports on DEC shares. Citigroup lifted their price objective on Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Mizuho cut their target price on Diversified Energy from $27.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Weiss Ratings reissued a "sell (d+)" rating on shares of Diversified Energy in a research report on Saturday, September 27th. Finally, Wall Street Zen raised Diversified Energy from a "hold" rating to a "buy" rating in a research report on Friday, September 26th.

Hedge Funds Weigh In On Diversified Energy

Large investors have recently bought and sold shares of the business. Pentwater Capital Management LP purchased a new position in Diversified Energy during the 1st quarter valued at $3,245,000. Artemis Investment Management LLP boosted its holdings in Diversified Energy by 15.8% during the 1st quarter. Artemis Investment Management LLP now owns 412,027 shares of the company's stock valued at $5,571,000 after acquiring an additional 56,117 shares during the period. Walleye Capital LLC lifted its holdings in shares of Diversified Energy by 1,164.0% in the 1st quarter. Walleye Capital LLC now owns 167,984 shares of the company's stock worth $2,271,000 after buying an additional 154,694 shares during the period. State of Wyoming purchased a new stake in shares of Diversified Energy in the 1st quarter worth $266,000. Finally, Bank of America Corp DE lifted its holdings in shares of Diversified Energy by 36.0% in the 4th quarter. Bank of America Corp DE now owns 75,382 shares of the company's stock worth $1,266,000 after buying an additional 19,972 shares during the period. Hedge funds and other institutional investors own 26.51% of the company's stock.

Diversified Energy Stock Down 1.5%

DEC traded down $0.21 on Friday, hitting $13.68. 557,841 shares of the company's stock traded hands, compared to its average volume of 451,993. The company's 50 day simple moving average is $15.13 and its 200-day simple moving average is $14.10. Diversified Energy has a one year low of $10.08 and a one year high of $17.70.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, December 1st. This represents a $1.16 dividend on an annualized basis and a yield of 8.5%.

Diversified Energy Company 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.

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