Adage Capital Partners GP L.L.C. Makes New $3.99 Million Investment in Diversified Energy Company PLC $DEC

Adage Capital Partners GP L.L.C. acquired a new position in Diversified Energy Company PLC (NYSE:DEC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 295,000 shares of the company's stock, valued at approximately $3,988,000. Adage Capital Partners GP L.L.C. owned 0.61% of Diversified Energy at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Diversified Energy by 23.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,744 shares of the company's stock worth $315,000 after purchasing an additional 3,513 shares in the last quarter. Northern Trust Corp raised its holdings in Diversified Energy by 3.0% in the fourth quarter. Northern Trust Corp now owns 283,820 shares of the company's stock worth $4,768,000 after purchasing an additional 8,375 shares in the last quarter. Jane Street Group LLC raised its holdings in Diversified Energy by 276.8% in the fourth quarter. Jane Street Group LLC now owns 128,261 shares of the company's stock worth $2,157,000 after purchasing an additional 94,225 shares in the last quarter. Bank of America Corp DE raised its holdings 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 purchasing an additional 19,972 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Diversified Energy by 18.7% during the fourth quarter. Deutsche Bank AG now owns 118,381 shares of the company's stock valued at $1,989,000 after acquiring an additional 18,638 shares in the last quarter. 26.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DEC shares. Wall Street Zen upgraded shares of Diversified Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Mizuho upped their price objective on Diversified Energy from $23.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Citigroup upped their price objective on Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Diversified Energy has a consensus rating of "Buy" and an average target price of $22.50.

Diversified Energy Stock Up 0.1%

NYSE DEC traded up $0.02 during mid-day trading on Friday, hitting $15.75. The stock had a trading volume of 59,362 shares, compared to its average volume of 427,267. The firm's 50 day moving average is $15.19 and its 200 day moving average is $13.89. Diversified Energy Company PLC has a twelve month low of $10.08 and a twelve month high of $17.70. The company has a quick ratio of 0.40, a current ratio of 0.54 and a debt-to-equity ratio of 3.47.

Diversified Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.4%.

Diversified Energy 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.