Diversified Energy (NYSE:DEC) Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Diversified Energy (NYSE:DEC) from “strong-buy” to “hold” in a new research report, signaling a more cautious view on the stock.
• Despite the downgrade, the broader analyst consensus remains Moderate Buy, with seven Buy ratings, two Hold ratings, and an average price target of $21.83.
• Shares traded around $13.94, giving the company a market cap of about $1.01 billion; the stock is well below the consensus target and near the lower end of its 52-week range of $12.33 to $18.90.

Diversified Energy (NYSE:DEC - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

DEC has been the subject of several other research reports. Weiss Ratings downgraded Diversified Energy from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. Citigroup boosted their price target on Diversified Energy from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. KeyCorp increased their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, April 2nd. Truist Financial lowered their price objective on shares of Diversified Energy from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, April 9th. Finally, Stephens started coverage on shares of Diversified Energy in a research report on Wednesday, April 15th. They set an "overweight" rating and a $24.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Diversified Energy presently has a consensus rating of "Moderate Buy" and an average target price of $21.83.

Diversified Energy Stock Up 0.1%

Shares of NYSE DEC opened at $13.94 on Tuesday. The stock has a market capitalization of $1.01 billion, a PE ratio of 3.96 and a beta of -0.40. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.57. The firm has a fifty day moving average of $14.56 and a 200-day moving average of $14.52. Diversified Energy has a 52-week low of $12.33 and a 52-week high of $18.90.

Institutional Investors Weigh In On Diversified Energy

A number of hedge funds have recently made changes to their positions in the business. EIG Asset Management LLC acquired a new position in shares of Diversified Energy during the fourth quarter valued at approximately $139,031,000. Ameriprise Financial Inc. acquired a new position in shares of Diversified Energy during the 2nd quarter valued at $53,894,000. Jupiter Asset Management Ltd. bought a new stake in shares of Diversified Energy in the 4th quarter worth $46,334,000. Man Group plc acquired a new stake in shares of Diversified Energy in the fourth quarter valued at $27,463,000. Finally, Artemis Investment Management LLP lifted its holdings in shares of Diversified Energy by 114.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company's stock valued at $37,555,000 after buying an additional 1,384,073 shares during the period. Institutional investors own 26.51% of the company's stock.

About Diversified Energy

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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