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

Key Points

• Short interest surged 52.9% in March to 3,251,802 shares, equal to 4.5% of the stock sold short and a short-interest ratio of 1.5 days.
• Analysts have been revising estimates upward, leaving a consensus rating of Moderate Buy and a consensus price target of $21.40 after recent upgrades from firms including Citigroup and KeyCorp.
• Diversified declared a quarterly dividend of $0.29 (annualized $1.16), yielding 7.3% with a dividend payout ratio of about 78.9%.

Diversified Energy Company PLC (NYSE:DEC - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 3,251,802 shares, an increase of 52.9% from the March 15th total of 2,126,571 shares. Currently, 4.5% of the shares of the stock are sold short. Based on an average trading volume of 2,162,518 shares, the short-interest ratio is presently 1.5 days.

Analysts Set New Price Targets

DEC has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Diversified Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 2nd. Citigroup upped their price target on shares of Diversified Energy from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. KeyCorp upped their price target on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. Wall Street Zen downgraded shares of Diversified Energy from a "buy" rating to a "hold" rating in a research report on Saturday, February 14th. Finally, Zacks Research upgraded shares of Diversified Energy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 25th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.40.

Institutional Trading of Diversified Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of Diversified Energy in the fourth quarter valued at $344,000. Caitong International Asset Management Co. Ltd purchased a new position in Diversified Energy during the 4th quarter valued at about $47,000. Invesco Ltd. boosted its holdings in Diversified Energy by 20.3% during the 4th quarter. Invesco Ltd. now owns 63,583 shares of the company's stock valued at $921,000 after acquiring an additional 10,746 shares during the period. State of Tennessee Department of Treasury purchased a new position in Diversified Energy during the 4th quarter valued at about $362,000. Finally, Empowered Funds LLC boosted its holdings in Diversified Energy by 9.4% during the 4th quarter. Empowered Funds LLC now owns 355,269 shares of the company's stock valued at $5,144,000 after acquiring an additional 30,509 shares during the period. Institutional investors and hedge funds own 26.51% of the company's stock.

Diversified Energy Price Performance

Shares of DEC traded down $0.36 during mid-day trading on Tuesday, hitting $15.80. 370,468 shares of the company were exchanged, compared to its average volume of 984,308. Diversified Energy has a 1-year low of $11.20 and a 1-year high of $18.90. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.60 and a current ratio of 0.60. The company has a 50 day moving average of $14.91 and a 200-day moving average of $14.21. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 10.73 and a beta of -0.23.

Diversified Energy (NYSE:DEC - Get Free Report) last released its quarterly earnings results on Friday, February 6th. The company reported $2.28 earnings per share for the quarter. Analysts expect that Diversified Energy will post 0.18 EPS for the current fiscal year.

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.3%. Diversified Energy's dividend payout ratio (DPR) is currently 78.91%.

Diversified Energy Company Profile

Diversified Energy Company PLC NYSE: DEC is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.

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