Empowered Funds LLC Has $3.63 Million Stock Position in Diversified Energy Company PLC $DEC

Key Points

• Empowered Funds LLC increased its holdings in Diversified Energy Company PLC by 95.8% in the first quarter, owning 268,664 shares worth approximately $3.6 million as of its latest SEC filing.
• Several hedge funds have also significantly boosted their positions in Diversified Energy; for instance, Goldman Sachs raised its stake by 177.9%, now holding over 1.1 million shares.
• Diversified Energy announced a quarterly dividend of $0.29 per share, representing a 7.6% dividend yield for shareholders of record on December 1st.

Empowered Funds LLC boosted its holdings in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 95.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 268,664 shares of the company's stock after acquiring an additional 131,444 shares during the quarter. Empowered Funds LLC owned approximately 0.56% of Diversified Energy worth $3,632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEC. Federated Hermes Inc. bought a new position in Diversified Energy during the first quarter valued at approximately $108,000. Summit X LLC bought a new position in Diversified Energy during the first quarter valued at approximately $140,000. AQR Capital Management LLC bought a new position in Diversified Energy during the first quarter valued at approximately $151,000. Trexquant Investment LP bought a new position in shares of Diversified Energy in the first quarter valued at approximately $155,000. Finally, Petrus Trust Company LTA bought a new position in shares of Diversified Energy in the first quarter valued at approximately $206,000. Institutional investors own 26.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Mizuho dropped their price target on shares of Diversified Energy from $27.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday. Wall Street Zen raised shares of Diversified Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup lifted their price target on shares of Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Diversified Energy presently has an average rating of "Buy" and an average target price of $22.25.

Diversified Energy Stock Up 1.2%

Shares of NYSE:DEC traded up $0.18 on Tuesday, hitting $15.38. The stock had a trading volume of 207,237 shares, compared to its average volume of 426,208. Diversified Energy Company PLC has a twelve month low of $10.08 and a twelve month high of $17.70. The company has a quick ratio of 0.40, a current ratio of 0.54 and a debt-to-equity ratio of 3.47. The firm's 50 day moving average price is $15.23 and its 200-day moving average price is $13.91.

Diversified Energy Dividend Announcement

The company 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 $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Monday, December 1st.

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.