Diversified Energy Company PLC (NYSE:DEC) Sees Significant Growth in Short Interest

Diversified Energy Company PLC (NYSE:DEC - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 1,140,000 shares, a growth of 22.4% from the March 15th total of 931,000 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 504,100 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. FMR LLC purchased a new position in Diversified Energy during the 3rd quarter valued at $31,000. State Street Corp boosted its stake in shares of Diversified Energy by 42.4% during the third quarter. State Street Corp now owns 552,844 shares of the company's stock valued at $6,291,000 after purchasing an additional 164,728 shares during the period. Jane Street Group LLC purchased a new position in Diversified Energy in the 3rd quarter worth about $384,000. XTX Topco Ltd purchased a new position in Diversified Energy in the 3rd quarter worth about $163,000. Finally, Barclays PLC lifted its holdings in Diversified Energy by 166.9% during the 3rd quarter. Barclays PLC now owns 516,535 shares of the company's stock valued at $5,876,000 after buying an additional 322,986 shares in the last quarter. Institutional investors own 26.51% of the company's stock.

Diversified Energy Price Performance

Shares of Diversified Energy stock traded up $0.10 during trading on Friday, hitting $12.44. The stock had a trading volume of 29,594 shares, compared to its average volume of 484,398. Diversified Energy has a 12 month low of $10.08 and a 12 month high of $17.70. The firm's fifty day simple moving average is $12.56 and its 200-day simple moving average is $14.19.

Diversified Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 9.32%.

Analyst Upgrades and Downgrades

DEC has been the topic of several recent research reports. Truist Financial upped their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Mizuho began coverage on Diversified Energy in a research report on Thursday, April 10th. They set an "outperform" rating and a $23.00 price objective on the stock. Finally, KeyCorp dropped their target price on Diversified Energy from $21.00 to $17.00 and set an "overweight" rating for the company in a report on Monday.

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.