Bridgeway Capital Management LLC Raises Holdings in Diversified Energy Company PLC $DEC

Key Points

• Bridgeway Capital Management LLC significantly increased its stake in Diversified Energy Company PLC by 85% during Q1, now holding approximately 471,206 shares valued at $6.37 million.
• Diversified Energy has announced a quarterly dividend of $0.29 per share, reflecting an annualized yield of 7.5%, with the payment set for December 31st.
• Analysts have a consensus Buy rating for Diversified Energy, with price targets raised by Citigroup from $16.00 to $19.00, indicating optimism about the company's future performance.

Bridgeway Capital Management LLC lifted its holdings in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 85.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 471,206 shares of the company's stock after acquiring an additional 216,486 shares during the period. Bridgeway Capital Management LLC owned approximately 0.98% of Diversified Energy worth $6,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jupiter Asset Management Ltd. boosted its position in Diversified Energy by 5.2% in the first quarter. Jupiter Asset Management Ltd. now owns 2,892,480 shares of the company's stock valued at $38,940,000 after buying an additional 141,691 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Diversified Energy by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,850,221 shares of the company's stock valued at $38,663,000 after acquiring an additional 82,113 shares during the last quarter. Artemis Investment Management LLP increased its stake in shares of Diversified Energy by 15.8% in the first quarter. Artemis Investment Management LLP now owns 412,027 shares of the company's stock worth $5,571,000 after acquiring an additional 56,117 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Diversified Energy by 112.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company's stock worth $6,463,000 after purchasing an additional 203,700 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in Diversified Energy during the fourth quarter valued at $6,274,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DEC has been the topic of several analyst reports. Mizuho increased their price target on Diversified Energy from $23.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday. Wall Street Zen raised Diversified Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Citigroup lifted their price target on Diversified Energy from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Diversified Energy presently has an average rating of "Buy" and an average price target of $22.50.

Diversified Energy Stock Performance

Shares of NYSE:DEC traded up $0.09 during midday trading on Wednesday, reaching $15.67. 167,018 shares of the company's stock traded hands, compared to its average volume of 428,283. The company has a fifty day simple moving average of $15.14 and a two-hundred day simple moving average of $13.86. Diversified Energy Company PLC has a 1 year low of $10.08 and a 1 year high of $17.70. The company has a current ratio of 0.54, a quick ratio of 0.40 and a debt-to-equity ratio of 3.47.

Diversified Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.4%.

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.