Bank of America Corp DE Increases Position in Diversified Energy Company PLC (NYSE:DEC)

Bank of America Corp DE raised its position in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 36.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,382 shares of the company's stock after acquiring an additional 19,972 shares during the quarter. Bank of America Corp DE owned approximately 0.16% of Diversified Energy worth $1,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Diversified Energy by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company's stock valued at $46,319,000 after acquiring an additional 468,312 shares in the last quarter. Barclays PLC lifted its stake in Diversified Energy by 166.9% in the 3rd quarter. Barclays PLC now owns 516,535 shares of the company's stock worth $5,876,000 after purchasing an additional 322,986 shares in the last quarter. Yaupon Capital Management LP acquired a new position in shares of Diversified Energy during the 4th quarter worth approximately $2,627,000. Castalian Partners LLC purchased a new stake in shares of Diversified Energy in the fourth quarter valued at approximately $1,680,000. Finally, Jane Street Group LLC increased its holdings in shares of Diversified Energy by 276.8% in the fourth quarter. Jane Street Group LLC now owns 128,261 shares of the company's stock valued at $2,157,000 after purchasing an additional 94,225 shares during the last quarter. Hedge funds and other institutional investors own 26.51% of the company's stock.

Diversified Energy Stock Performance

Shares of Diversified Energy stock traded up $0.26 during trading hours on Friday, hitting $14.27. The company's stock had a trading volume of 356,168 shares, compared to its average volume of 378,014. Diversified Energy Company PLC has a twelve month low of $10.08 and a twelve month high of $17.70. The firm has a fifty day moving average of $12.85 and a 200-day moving average of $14.42.

Diversified Energy Announces Dividend

The business 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. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a yield of 8.13%.

Wall Street Analysts Forecast Growth

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

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.