Diversified Energy (NYSE:DEC) Shares Down 4.2% - Here's What Happened

Key Points

• Shares fell 4.2% to $17.53 on Tuesday with about 1.16 million shares traded (up 16% vs. average); the company has a market cap of $1.26 billion and a trailing P/E of 11.87.
• Analysts have a consensus "Moderate Buy" rating with an average price target of $21.20 after recent upgrades from firms including Mizuho, Truist and Citigroup (ratings mix: 1 Strong Buy, 5 Buy, 2 Hold).
• Diversified declared a quarterly dividend of $0.29 (annualized $1.16) for a 6.7% yield

Diversified Energy Company PLC (NYSE:DEC - Get Free Report)'s share price was down 4.2% during trading on Tuesday . The stock traded as low as $17.47 and last traded at $17.53. Approximately 1,156,419 shares changed hands during trading, an increase of 16% from the average daily volume of 997,484 shares. The stock had previously closed at $18.30.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Zacks Research raised Diversified Energy from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 25th. Truist Financial began coverage on Diversified Energy in a report on Tuesday, March 24th. They set a "buy" rating and a $22.00 price target on the stock. Mizuho boosted their price objective on Diversified Energy from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday, December 12th. Citigroup upped their price objective on Diversified Energy from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, March 17th. Finally, Johnson Rice raised Diversified Energy from an "accumulate" rating to a "buy" rating and raised their target price for the company from $19.00 to $23.00 in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $21.20.

Diversified Energy Stock Down 5.0%

The company has a debt-to-equity ratio of 2.73, a current ratio of 0.60 and a quick ratio of 0.60. The company has a fifty day moving average price of $14.15 and a 200 day moving average price of $14.05. The company has a market cap of $1.26 billion, a PE ratio of 11.87 and a beta of 0.46.

Diversified Energy (NYSE:DEC - Get Free Report) last announced its earnings results on Friday, February 6th. The company reported $2.28 earnings per share for the quarter. As a group, analysts anticipate that Diversified Energy Company PLC will post 0.18 EPS for the current year.

Diversified Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 6.7%. Diversified Energy's payout ratio is currently 78.91%.

Insider Transactions at Diversified Energy

In other Diversified Energy news, Director Randall S. Wade sold 2,100,000 shares of the firm's stock in a transaction on Friday, January 9th. The stock was sold at an average price of $13.28, for a total transaction of $27,888,000.00. Following the completion of the transaction, the director owned 7,501,585 shares of the company's stock, valued at approximately $99,621,048.80. This trade represents a 21.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Trading of Diversified Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP raised its holdings in Diversified Energy by 1,595.2% in the 3rd quarter. Quarry LP now owns 2,119 shares of the company's stock worth $30,000 after acquiring an additional 1,994 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Diversified Energy in the 4th quarter worth $32,000. Ensign Peak Advisors Inc purchased a new position in shares of Diversified Energy in the fourth quarter worth $35,000. State of Alaska Department of Revenue bought a new position in shares of Diversified Energy during the third quarter valued at $47,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Diversified Energy by 261.3% during the second quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company's stock valued at $74,000 after buying an additional 3,666 shares during the last quarter. 26.51% of the stock is owned by hedge funds and other institutional investors.

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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