Diversified Energy Company PLC $DEC Shares Acquired by Empowered Funds LLC

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 grew its stake in Diversified Energy Company PLC (NYSE:DEC - Free Report) by 95.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 268,664 shares of the company's stock after acquiring an additional 131,444 shares during the quarter. Empowered Funds LLC owned about 0.56% of Diversified Energy worth $3,632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Diversified Energy by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,748 shares of the company's stock worth $449,000 after purchasing an additional 934 shares during the last quarter. Amundi increased its position in shares of Diversified Energy by 4.1% during the 1st quarter. Amundi now owns 50,406 shares of the company's stock worth $654,000 after purchasing an additional 1,995 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Diversified Energy by 23.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,744 shares of the company's stock worth $315,000 after purchasing an additional 3,513 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Diversified Energy by 29.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,264 shares of the company's stock worth $232,000 after purchasing an additional 3,911 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Diversified Energy by 3.8% during the 4th quarter. Nuveen Asset Management LLC now owns 165,797 shares of the company's stock worth $2,787,000 after purchasing an additional 6,120 shares during the last quarter. 26.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DEC. Mizuho cut their price objective on Diversified Energy from $27.00 to $26.00 and set an "outperform" rating for the company in a research report on Monday. Citigroup boosted their target price on Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Finally, Wall Street Zen raised Diversified Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, Diversified Energy has a consensus rating of "Buy" and a consensus price target of $22.25.

Diversified Energy Trading Up 1.4%

Shares of Diversified Energy stock traded up $0.20 during trading hours on Thursday, reaching $14.24. The stock had a trading volume of 435,792 shares, compared to its average volume of 438,871. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.40 and a current ratio of 0.54. Diversified Energy Company PLC has a 1 year low of $10.08 and a 1 year high of $17.70. The firm has a 50 day simple moving average of $15.24 and a two-hundred day simple moving average of $13.92.

Diversified Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 annualized dividend and a dividend yield of 8.1%.

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.