Woodline Partners LP Buys New Shares in Diversified Energy Company PLC (NYSE:DEC)

Woodline Partners LP acquired a new stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 373,447 shares of the company's stock, valued at approximately $6,274,000. Woodline Partners LP owned approximately 0.77% of Diversified Energy at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Diversified Energy by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company's stock valued at $46,319,000 after purchasing an additional 468,312 shares in the last quarter. Barclays PLC boosted its position in shares of Diversified Energy by 166.9% during the 3rd quarter. Barclays PLC now owns 516,535 shares of the company's stock valued at $5,876,000 after purchasing an additional 322,986 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Diversified Energy by 112.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company's stock valued at $6,463,000 after purchasing an additional 203,700 shares in the last quarter. Millennium Management LLC boosted its position in shares of Diversified Energy by 687.7% during the 4th quarter. Millennium Management LLC now owns 308,987 shares of the company's stock valued at $5,191,000 after purchasing an additional 269,759 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Diversified Energy by 3.0% during the 4th quarter. Northern Trust Corp now owns 283,820 shares of the company's stock valued at $4,768,000 after purchasing an additional 8,375 shares in the last quarter. Institutional investors own 26.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho initiated coverage on shares of Diversified Energy in a research report on Thursday, April 10th. They set an "outperform" rating and a $23.00 price objective for the company. KeyCorp decreased their target price on shares of Diversified Energy from $21.00 to $17.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Citigroup initiated coverage on shares of Diversified Energy in a report on Tuesday, April 29th. They issued a "buy" rating and a $16.00 target price for the company. Finally, Wall Street Zen upgraded shares of Diversified Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.

Diversified Energy Trading Down 1.3%

Shares of NYSE:DEC traded down $0.18 during trading on Thursday, reaching $14.16. The stock had a trading volume of 138,767 shares, compared to its average volume of 372,495. Diversified Energy Company PLC has a 52 week low of $10.08 and a 52 week high of $17.70. The stock has a fifty day simple moving average of $12.76 and a two-hundred day simple moving average of $14.43.

Diversified Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 8.19%. The ex-dividend date is Friday, August 29th.

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.