Bank of America Corp DE boosted its holdings in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 57.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 304,613 shares of the company's stock after purchasing an additional 111,625 shares during the period. Bank of America Corp DE owned about 0.42% of Diversified Energy worth $5,312,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP grew its position in Diversified Energy by 1,595.2% in the third quarter. Quarry LP now owns 2,119 shares of the company's stock valued at $30,000 after acquiring an additional 1,994 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Diversified Energy in the fourth quarter valued at approximately $32,000. Ensign Peak Advisors Inc bought a new position in Diversified Energy during the fourth quarter worth about $35,000. Tower Research Capital LLC TRC increased its position in shares of Diversified Energy by 261.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company's stock valued at $74,000 after buying an additional 3,666 shares in the last quarter. Finally, Massar Capital Management LP bought a new stake in shares of Diversified Energy in the second quarter worth about $152,000. 26.51% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have issued reports on DEC. Weiss Ratings raised Diversified Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. Zacks Research cut shares of Diversified Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Mizuho set a $32.00 price target on Diversified Energy in a research note on Monday, August 10th. Jefferies Financial Group upgraded shares of Diversified Energy to a "hold" rating in a research report on Friday, July 10th. Finally, Citigroup reduced their price target on shares of Diversified Energy from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.
Read Our Latest Research Report on Diversified Energy
Diversified Energy Stock Performance
Shares of Diversified Energy stock opened at $15.08 on Friday. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 4.67 and a beta of -0.38. The business has a 50-day simple moving average of $13.69 and a 200 day simple moving average of $14.60. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.57 and a quick ratio of 0.57. Diversified Energy Company PLC has a one year low of $12.33 and a one year high of $18.90.
Diversified Energy (NYSE:DEC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.49). The business had revenue of $442.30 million for the quarter, compared to analysts' expectations of $492.98 million. On average, research analysts anticipate that Diversified Energy Company PLC will post 2.7 earnings per share for the current fiscal year.
Diversified Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 2nd will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Wednesday, December 2nd. Diversified Energy's payout ratio is 35.91%.
About Diversified Energy
(
Free Report)
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.
See Also
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