Artemis Investment Management LLP Buys 1,384,073 Shares of Diversified Energy Company PLC $DEC

Key Points

• Artemis Investment Management LLP boosted its stake in Diversified Energy (NYSE:DEC) by 114.2%, acquiring 1,384,073 shares to hold 2,595,577 shares worth about $37.56 million.
• The company declared a quarterly dividend of $0.29 (annualized $1.16), representing a roughly 7.0% yield; the ex-dividend date is May 29 and the dividend is payable June 30, with a payout ratio of 78.9%.
• Analysts maintain a consensus "Moderate Buy" (seven Buys, two Holds) with a $21.83 average price target, while DEC trades with a market cap of $1.19 billion and a P/E of 11.2.

Artemis Investment Management LLP grew its stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 114.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,595,577 shares of the company's stock after buying an additional 1,384,073 shares during the period. Artemis Investment Management LLP's holdings in Diversified Energy were worth $37,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quadrant Capital Group LLC increased its position in shares of Diversified Energy by 8.1% during the third quarter. Quadrant Capital Group LLC now owns 11,500 shares of the company's stock valued at $161,000 after buying an additional 863 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Diversified Energy by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company's stock valued at $377,000 after buying an additional 1,170 shares during the period. Callan Family Office LLC increased its position in shares of Diversified Energy by 7.7% in the third quarter. Callan Family Office LLC now owns 16,840 shares of the company's stock worth $236,000 after purchasing an additional 1,201 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Diversified Energy by 5.6% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 23,575 shares of the company's stock worth $330,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Quarry LP increased its position in shares of Diversified Energy by 1,595.2% in the third quarter. Quarry LP now owns 2,119 shares of the company's stock worth $30,000 after purchasing an additional 1,994 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Stock Performance

Shares of DEC stock opened at $16.47 on Friday. The stock has a fifty day moving average of $15.55 and a 200 day moving average of $14.38. Diversified Energy Company PLC has a 52 week low of $12.33 and a 52 week high of $18.90. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 11.20 and a beta of -0.34. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.73.

Diversified Energy (NYSE:DEC - Get Free Report) last announced its quarterly earnings results on Friday, February 6th. The company reported $2.28 EPS for the quarter. As a group, research analysts expect that Diversified Energy Company PLC will post 3.31 earnings per share for the current year.

Diversified Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a $0.29 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 7.0%. Diversified Energy's dividend payout ratio is 78.91%.

Wall Street Analysts Forecast Growth

DEC has been the topic of several research analyst reports. Truist Financial decreased their price objective on shares of Diversified Energy from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, April 9th. KeyCorp upped their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. Stephens initiated coverage on shares of Diversified Energy in a research report on Wednesday, April 15th. They issued an "overweight" rating and a $24.00 price objective on the stock. Weiss Ratings upgraded shares of Diversified Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 2nd. Finally, Citigroup upped their price objective on shares of Diversified Energy from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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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