Jupiter Asset Management Ltd. Buys 141,691 Shares of Diversified Energy Company PLC (NYSE:DEC)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Diversified Energy Company PLC by 5.2%, owning approximately 6.00% of the company valued at about $38.94 million.
• Diversified Energy announced a quarterly dividend of $0.29 per share with an annualized yield of 8.1%, to be paid on September 30th.
• Wall Street analysts have raised Diversified Energy's stock ratings, with several issuing buy ratings and a consensus target price of $20.75.

Jupiter Asset Management Ltd. lifted its position in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,892,480 shares of the company's stock after purchasing an additional 141,691 shares during the period. Jupiter Asset Management Ltd. owned 6.00% of Diversified Energy worth $38,940,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Invesco Ltd. grew its stake in Diversified Energy by 1.7% in the 4th quarter. Invesco Ltd. now owns 39,195 shares of the company's stock worth $658,000 after buying an additional 638 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $449,000 after buying an additional 934 shares in the last quarter. Wells Fargo & Company MN grew its stake in Diversified Energy by 4.1% in the 4th quarter. Wells Fargo & Company MN now owns 27,287 shares of the company's stock worth $458,000 after buying an additional 1,085 shares in the last quarter. MetLife Investment Management LLC grew its stake in Diversified Energy by 5.8% in 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Diversified Energy by 23.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,744 shares of the company's stock worth $315,000 after buying an additional 3,513 shares in the last quarter. 26.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Diversified Energy Trading Down 0.6%

Shares of NYSE:DEC traded down $0.09 during midday trading on Wednesday, reaching $14.48. The company's stock had a trading volume of 173,221 shares, compared to its average volume of 449,048. The firm has a 50 day moving average of $14.62 and a 200-day moving average of $13.97. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.26. Diversified Energy Company PLC has a 12-month low of $10.08 and a 12-month high of $17.70.

Diversified Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Friday, August 29th.

Diversified Energy Company 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.