Diversified Energy (NYSE:DEC) Given New $17.00 Price Target at KeyCorp

Diversified Energy (NYSE:DEC - Free Report) had its price objective trimmed by KeyCorp from $21.00 to $17.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also issued reports on DEC. Truist Financial upped their price target 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 initiated coverage on Diversified Energy in a research report on Thursday, April 10th. They set an "outperform" rating and a $23.00 price target on the stock.

Diversified Energy Trading Up 1.8 %

Shares of DEC traded up $0.23 during mid-day trading on Monday, reaching $12.57. The company's stock had a trading volume of 214,447 shares, compared to its average volume of 357,728. Diversified Energy has a 52 week low of $10.08 and a 52 week high of $17.70. The company's fifty day moving average price is $12.48 and its two-hundred day moving average price is $14.19.

Diversified Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 9.23%. The ex-dividend date of this dividend is Friday, May 30th.

Institutional Trading of Diversified Energy

Several large investors have recently modified their holdings of DEC. Artemis Investment Management LLP lifted its holdings in Diversified Energy by 15.8% in the 1st quarter. Artemis Investment Management LLP now owns 412,027 shares of the company's stock worth $5,571,000 after buying an additional 56,117 shares during the period. Mackenzie Financial Corp lifted its stake in Diversified Energy by 11.7% in the fourth quarter. Mackenzie Financial Corp now owns 100,797 shares of the company's stock worth $1,693,000 after acquiring an additional 10,594 shares during the period. Woodline Partners LP bought a new stake in Diversified Energy in the fourth quarter valued at $6,274,000. Thomist Capital Management LP purchased a new position in Diversified Energy during the 4th quarter valued at $547,000. Finally, ProShare Advisors LLC bought a new position in Diversified Energy in the 4th quarter worth $222,000. 26.51% of the stock is owned by institutional investors.

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.