838,252 Shares in Diversified Energy Company PLC $DEC Acquired by Premier Fund Managers Ltd

Key Points

• Premier Fund Managers bought 838,252 shares of Diversified Energy (≈$12.07M) in Q4 and now owns about 1.74% of the company.
• Diversified Energy declared a quarterly dividend of $0.29 (annualized $1.16) for a 7.6% yield, with record date Aug 28 and payment on Sep 30; payout ratio is ~78.9%.
• Shares opened at about $15.34 (down 6.2%), market cap ~$1.11B and P/E 10.44; analysts hold a consensus of “Moderate Buy” with an average price target of $21.83.

Premier Fund Managers Ltd bought a new position in Diversified Energy Company PLC (NYSE:DEC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 838,252 shares of the company's stock, valued at approximately $12,069,000. Premier Fund Managers Ltd owned 1.74% of Diversified Energy as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aberdeen Group plc purchased a new stake in Diversified Energy in the 4th quarter worth approximately $13,901,000. Tudor Investment Corp ET AL grew its stake in Diversified Energy by 30.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 257,955 shares of the company's stock worth $3,614,000 after acquiring an additional 60,283 shares during the period. Fortress Investment Group LLC purchased a new stake in Diversified Energy in the 3rd quarter worth approximately $4,977,000. Artemis Investment Management LLP grew its stake in Diversified Energy by 114.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company's stock worth $37,555,000 after acquiring an additional 1,384,073 shares during the period. Finally, Penn Capital Management Company LLC grew its stake in Diversified Energy by 107.2% in the 3rd quarter. Penn Capital Management Company LLC now owns 91,912 shares of the company's stock worth $1,288,000 after acquiring an additional 47,552 shares during the period. 26.51% of the stock is owned by hedge funds and other institutional investors.

Diversified Energy Stock Down 6.2%

Shares of Diversified Energy stock opened at $15.34 on Thursday. The company has a fifty day moving average price of $15.64 and a 200 day moving average price of $14.45. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.73. Diversified Energy Company PLC has a twelve month low of $12.33 and a twelve month high of $18.90. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 10.44 and a beta of -0.34.

Diversified Energy (NYSE:DEC - Get Free Report) last issued its quarterly earnings data on Friday, February 6th. The company reported $2.28 EPS for the quarter. Equities research analysts forecast that Diversified Energy Company PLC will post 3.31 earnings per share for the current fiscal year.

Diversified Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 28th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 7.6%. Diversified Energy's payout ratio is currently 78.91%.

Analysts Set New Price Targets

A number of analysts have recently commented on DEC shares. Wall Street Zen downgraded Diversified Energy from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Truist Financial lowered their price target on Diversified Energy from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, April 9th. Weiss Ratings raised Diversified Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 2nd. KeyCorp boosted their price target on Diversified Energy from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, April 2nd. Finally, Zacks Research raised Diversified Energy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 25th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Diversified Energy currently has a consensus rating of "Moderate Buy" and an average price target of $21.83.

About Diversified Energy

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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