Alyeska Investment Group L.P. Has $3.74 Million Stock Holdings in Diversified Energy Company PLC $DEC

Key Points

• Alyeska Investment Group L.P. increased its stake in Diversified Energy Company PLC by 257.8%, acquiring an additional 199,387 shares in the first quarter, bringing its total ownership to 276,740 shares.
• Diversified Energy recently announced a quarterly dividend of $0.29 per share, representing an annualized yield of 7.7%, with the ex-dividend date set for December 1st.
• Several institutional investors have also adjusted their holdings in Diversified Energy, with notable increases from Royal Bank of Canada and PDT Partners LLC, boosting their stakes significantly in the same period.

Alyeska Investment Group L.P. boosted its stake in Diversified Energy Company PLC (NYSE:DEC - Free Report) by 257.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,740 shares of the company's stock after purchasing an additional 199,387 shares during the period. Alyeska Investment Group L.P. owned about 0.57% of Diversified Energy worth $3,742,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Federated Hermes Inc. acquired a new position in Diversified Energy during the 1st quarter worth about $108,000. Summit X LLC acquired a new stake in shares of Diversified Energy during the first quarter worth $140,000. Trexquant Investment LP bought a new position in Diversified Energy during the first quarter worth $155,000. ProShare Advisors LLC acquired a new position in Diversified Energy in the fourth quarter valued at $222,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Diversified Energy by 29.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,264 shares of the company's stock valued at $232,000 after acquiring an additional 3,911 shares during the last quarter. 26.51% of the stock is owned by institutional investors.

Diversified Energy Stock Down 0.1%

Shares of DEC traded down $0.02 during trading hours on Thursday, hitting $15.73. The stock had a trading volume of 289,845 shares, compared to its average volume of 303,392. Diversified Energy Company PLC has a 1-year low of $10.08 and a 1-year high of $17.70. The firm has a 50 day simple moving average of $15.19 and a 200-day simple moving average of $13.89. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.40 and a current ratio of 0.54.

Diversified Energy Dividend Announcement

The company also recently disclosed 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. This represents a $1.16 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is Monday, December 1st.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded Diversified Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Mizuho raised their target price on Diversified Energy from $23.00 to $27.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Citigroup lifted their target price on Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $22.50.

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.