Diversified Energy (NYSE:DEC) Shares Gap Up - Still a Buy?

Key Points

• Diversified Energy Company PLC shares gapped up, opening at $15.93 from a previous close of $14.56, with a last traded price of $15.80.
• A number of analysts have rated the stock with a consensus rating of "Moderate Buy" and a target price of $20.75, with Citigroup setting a $16.00 price target.
• The company announced a quarterly dividend of $0.29 per share, yielding 7.5%, payable on September 30th to shareholders of record as of August 29th.

Diversified Energy Company PLC (NYSE:DEC - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $14.56, but opened at $15.93. Diversified Energy shares last traded at $15.80, with a volume of 143,251 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Diversified Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup initiated coverage on Diversified Energy in a research note on Tuesday, April 29th. They set a "buy" rating and a $16.00 price target on the stock. Finally, KeyCorp cut their price objective on shares of Diversified Energy from $21.00 to $17.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.

Diversified Energy Trading Up 6.3%

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.26. The firm's fifty day simple moving average is $14.64 and its two-hundred day simple moving average is $13.92.

Diversified Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.5%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its position in shares of Diversified Energy by 273.1% during the second quarter. CWM LLC now owns 1,787 shares of the company's stock worth $26,000 after buying an additional 1,308 shares during the period. Allworth Financial LP boosted its holdings in Diversified Energy by 10,143.9% during the 2nd quarter. Allworth Financial LP now owns 4,200 shares of the company's stock valued at $62,000 after acquiring an additional 4,159 shares during the period. Oakworth Capital Inc. purchased a new position in Diversified Energy during the 2nd quarter valued at about $73,000. Federated Hermes Inc. purchased a new position in shares of Diversified Energy in the first quarter valued at approximately $108,000. Finally, Summit X LLC purchased a new position in shares of Diversified Energy in the first quarter valued at approximately $140,000. Hedge funds and other institutional investors own 26.51% of the company's stock.

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.

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