Diversified Energy (NYSE:DEC) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho has raised its target price for Diversified Energy (NYSE:DEC) from $23.00 to $27.00, signaling a potential upside of 72.47% based on the stock's previous close.
• Several other brokerages have also increased their target prices, with Citigroup moving their estimate from $16.00 to $19.00, and a consensus rating of "Buy" across analysts.
• The stock recently traded up 5.3%, reaching $15.66, with a twelve-month trading range between $10.08 and $17.70.

Diversified Energy (NYSE:DEC - Get Free Report) had its target price increased by analysts at Mizuho from $23.00 to $27.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price target would indicate a potential upside of 72.47% from the stock's previous close.

Several other brokerages have also issued reports on DEC. Citigroup increased their target price on shares of Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Wall Street Zen raised Diversified Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $22.50.

Diversified Energy Trading Up 5.3%

DEC traded up $0.79 during trading on Tuesday, hitting $15.66. The company's stock had a trading volume of 141,470 shares, compared to its average volume of 428,615. Diversified Energy has a twelve month low of $10.08 and a twelve month high of $17.70. The stock's fifty day moving average price is $15.12 and its 200-day moving average price is $13.85. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.54 and a quick ratio of 0.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP lifted its holdings in shares of Diversified Energy by 197.4% during the 4th quarter. Quantinno Capital Management LP now owns 43,815 shares of the company's stock worth $736,000 after acquiring an additional 29,084 shares during the last quarter. Artemis Investment Management LLP raised its holdings in shares of Diversified Energy by 15.8% during the 1st quarter. Artemis Investment Management LLP now owns 412,027 shares of the company's stock valued at $5,571,000 after buying an additional 56,117 shares in the last quarter. Walleye Capital LLC lifted its position in Diversified Energy by 1,164.0% in the 1st quarter. Walleye Capital LLC now owns 167,984 shares of the company's stock worth $2,271,000 after buying an additional 154,694 shares during the last quarter. State of Wyoming bought a new stake in Diversified Energy in the 1st quarter worth approximately $266,000. Finally, Bank of America Corp DE boosted its stake in Diversified Energy by 36.0% in the fourth quarter. Bank of America Corp DE now owns 75,382 shares of the company's stock worth $1,266,000 after buying an additional 19,972 shares in the last quarter. Institutional investors own 26.51% of the company's stock.

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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