Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC - Get Free Report) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 1,630,000 shares, an increase of 43.0% from the March 31st total of 1,140,000 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average trading volume of 539,600 shares, the days-to-cover ratio is currently 3.0 days.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Mizuho assumed coverage on Diversified Energy in a research note on Thursday, April 10th. They set an "outperform" rating and a $23.00 target price on the stock. Citigroup assumed coverage on Diversified Energy in a research report on Tuesday. They set a "buy" rating and a $16.00 target price on the stock. Truist Financial raised their price target on shares of Diversified Energy from $21.00 to $27.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, KeyCorp dropped their target price 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.

Diversified Energy Stock Down 2.7 %

DEC stock traded down $0.34 during mid-day trading on Wednesday, reaching $12.46. The company had a trading volume of 66,897 shares, compared to its average volume of 477,373. The stock has a 50 day simple moving average of $12.40 and a two-hundred day simple moving average of $14.22. Diversified Energy has a 52 week low of $10.08 and a 52 week high of $17.70.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 9.31%.

Institutional Trading of Diversified Energy

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Diversified Energy by 20.4% during 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 last quarter. Barclays PLC increased its stake in 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 acquiring an additional 322,986 shares during the period. Artemis Investment Management LLP increased its stake in Diversified Energy by 15.8% during the 1st quarter. Artemis Investment Management LLP now owns 412,027 shares of the company's stock worth $5,571,000 after acquiring an additional 56,117 shares during the period. Balyasny Asset Management L.P. increased its stake in Diversified Energy by 112.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company's stock worth $6,463,000 after acquiring an additional 203,700 shares during the period. Finally, Woodline Partners LP bought a new position in Diversified Energy during the 4th quarter worth $6,274,000. 26.51% of the stock is owned by institutional investors and hedge funds.

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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