Diversified Energy (NYSE:DEC) Shares Gap Down - What's Next?

Key Points

• Diversified Energy's stock price gapped down from $15.41 to $14.39 upon opening, reflecting potential concerns among investors as it last traded at $14.49 with significant volume.
• Analysts have mixed sentiments, with Citigroup raising its target price to $19.00 and Mizuho lowering it to $26.00, while the consensus rating remains a "Buy" with a target price of $22.25.
• The company declared a quarterly dividend of $0.29 per share, set to be paid on December 31st, which represents an annualized yield of 8.1% for investors.

Diversified Energy Company PLC (NYSE:DEC - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $15.41, but opened at $14.39. Diversified Energy shares last traded at $14.49, with a volume of 782,018 shares.

Analyst Upgrades and Downgrades

DEC has been the topic of a number of research analyst reports. Citigroup increased their target price on Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Mizuho cut their price target on Diversified Energy from $27.00 to $26.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Diversified Energy has an average rating of "Buy" and an average price target of $22.25.

Diversified Energy Trading Down 1.5%

The company has a current ratio of 0.54, a quick ratio of 0.40 and a debt-to-equity ratio of 3.47. The business has a fifty day moving average price of $15.22 and a two-hundred day moving average price of $13.96.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 dividend on an annualized basis and a yield of 8.3%.

Hedge Funds Weigh In On Diversified Energy

A number of institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. bought a new position in shares of Diversified Energy in the second quarter worth about $53,894,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Diversified Energy by 1.2% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,926,886 shares of the company's stock worth $43,478,000 after acquiring an additional 34,406 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Diversified Energy by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,850,221 shares of the company's stock worth $38,663,000 after acquiring an additional 82,113 shares in the last quarter. Tejara Capital Ltd boosted its holdings in shares of Diversified Energy by 1,903.1% in the 2nd quarter. Tejara Capital Ltd now owns 1,905,333 shares of the company's stock worth $27,951,000 after acquiring an additional 1,810,214 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Diversified Energy by 177.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company's stock worth $16,060,000 after buying an additional 760,428 shares in the last quarter. 26.51% of the stock is currently 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.