Bailard Inc. Takes Position in Diversified Energy Company PLC (NYSE:DEC)

Bailard Inc. bought a new position in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 21,100 shares of the company's stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in Diversified Energy by 1.7% in the 4th quarter. Invesco Ltd. now owns 39,195 shares of the company's stock valued at $658,000 after purchasing an additional 638 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Diversified Energy by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,748 shares of the company's stock valued at $449,000 after purchasing an additional 934 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Diversified Energy by 4.1% in the 4th quarter. Wells Fargo & Company MN now owns 27,287 shares of the company's stock valued at $458,000 after buying an additional 1,085 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Diversified Energy by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 29,267 shares of the company's stock worth $492,000 after buying an additional 1,597 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Diversified Energy by 23.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,744 shares of the company's stock valued at $315,000 after buying an additional 3,513 shares during the period. 26.51% of the stock is owned by hedge funds and other institutional investors.

Diversified Energy Price Performance

Diversified Energy stock traded down $0.04 during midday trading on Thursday, reaching $14.90. 165,661 shares of the stock traded hands, compared to its average volume of 427,803. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.40 and a current ratio of 0.40. The company has a 50-day simple moving average of $14.46 and a two-hundred day simple moving average of $14.08. Diversified Energy Company PLC has a 12-month low of $10.08 and a 12-month high of $17.70.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date of this dividend is Friday, August 29th.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DEC. Mizuho initiated coverage on Diversified Energy in a research report on Thursday, April 10th. They issued an "outperform" rating and a $23.00 price objective for the company. KeyCorp reduced their price objective on shares of Diversified Energy from $21.00 to $17.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Citigroup started coverage on shares of Diversified Energy in a research note on Tuesday, April 29th. They set a "buy" rating and a $16.00 target price for the company. Finally, Wall Street Zen upgraded shares of Diversified Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Diversified Energy has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

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.