Artemis Investment Management LLP Acquires 56,117 Shares of Diversified Energy Company PLC (NYSE:DEC)

Artemis Investment Management LLP lifted its holdings in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 15.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 412,027 shares of the company's stock after acquiring an additional 56,117 shares during the period. Artemis Investment Management LLP owned 0.85% of Diversified Energy worth $5,571,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DEC. Proficio Capital Partners LLC purchased a new position in shares of Diversified Energy during the fourth quarter worth approximately $352,000. Callan Family Office LLC purchased a new position in Diversified Energy in the 4th quarter valued at $248,000. Amundi grew its position in Diversified Energy by 8.1% in the 4th quarter. Amundi now owns 48,411 shares of the company's stock valued at $806,000 after buying an additional 3,625 shares during the last quarter. Signaturefd LLC grew its position in Diversified Energy by 181.8% in the 4th quarter. Signaturefd LLC now owns 7,763 shares of the company's stock valued at $130,000 after buying an additional 5,008 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Diversified Energy in the 4th quarter valued at $293,000. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DEC has been the subject of a number of recent analyst reports. Wall Street Zen raised Diversified Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. KeyCorp reduced their target price on Diversified Energy from $21.00 to $17.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Mizuho initiated coverage on Diversified Energy in a report on Thursday, April 10th. They issued an "outperform" rating and a $23.00 target price for the company. Finally, Citigroup began coverage on Diversified Energy in a report on Tuesday, April 29th. They issued a "buy" rating and a $16.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Diversified Energy has a consensus rating of "Moderate Buy" and an average price target of $20.75.

Diversified Energy Trading Up 1.3%

NYSE:DEC traded up $0.19 on Friday, reaching $14.96. The company's stock had a trading volume of 2,049,986 shares, compared to its average volume of 373,833. Diversified Energy Company PLC has a 1-year low of $10.08 and a 1-year high of $17.70. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.26. The business's 50-day moving average price is $13.81 and its two-hundred day moving average price is $14.28.

Diversified Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.75%.

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.