Diversified Energy (NYSE:DEC) Price Target Cut to $16.00 by Analysts at Citigroup

Key Points

• Citigroup has revised its price target for Diversified Energy (NYSE:DEC) from $19.00 to $16.00, though it maintains a "buy" rating on the stock.
• The stock saw a slight increase of $0.15 during trading, closing at $12.77, amidst average trading volume.
• Institutional investors currently hold 26.51% of Diversified Energy's shares, with significant recent purchases by Ameriprise Financial and Tejara Capital.

Diversified Energy (NYSE:DEC - Get Free Report) had its price objective cut by stock analysts at Citigroup from $19.00 to $16.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 25.30% from the company's previous close.

Several other brokerages have also recently weighed in on DEC. Mizuho decreased their price objective on shares of Diversified Energy from $27.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Diversified Energy in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Diversified Energy from a "buy" rating to a "hold" rating in a research note on Saturday. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.50.

Diversified Energy Price Performance

Diversified Energy stock traded up $0.15 during trading hours on Monday, hitting $12.77. 131,605 shares of the stock were exchanged, compared to its average volume of 448,459. Diversified Energy has a 12 month low of $10.08 and a 12 month high of $17.70. The business's 50-day moving average is $14.76 and its two-hundred day moving average is $14.09.

Hedge Funds Weigh In On Diversified Energy

Several large investors have recently bought and sold shares of DEC. Ameriprise Financial Inc. acquired a new position in Diversified Energy in the second quarter valued at approximately $53,894,000. Tejara Capital Ltd lifted its holdings in Diversified Energy by 1,903.1% in the second quarter. Tejara Capital Ltd now owns 1,905,333 shares of the company's stock valued at $27,951,000 after buying an additional 1,810,214 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Diversified Energy by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company's stock valued at $16,060,000 after buying an additional 760,428 shares during the period. Cooper Creek Partners Management LLC acquired a new position in Diversified Energy in the second quarter valued at approximately $9,084,000. Finally, Woodline Partners LP lifted its holdings in Diversified Energy by 82.2% in the first quarter. Woodline Partners LP now owns 680,580 shares of the company's stock valued at $9,201,000 after buying an additional 307,133 shares during the period. 26.51% of the stock is currently owned by institutional investors and hedge funds.

About Diversified Energy

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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