Ghisallo Capital Management LLC Invests $2.70 Million in Diversified Energy Company PLC $DEC

Key Points

• Ghisallo Capital Management LLC has acquired a new stake in Diversified Energy Company PLC, purchasing 200,000 shares valued at approximately $2.70 million, which represents 0.41% of the company.
• Diversified Energy recently announced a quarterly dividend of $0.29 per share, with an annualized yield of 7.1% for shareholders of record.
• Analysts have maintained a positive outlook on Diversified Energy, with a majority rating it as a "buy" and setting an average target price of $21.50.

Ghisallo Capital Management LLC acquired a new stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 200,000 shares of the company's stock, valued at approximately $2,704,000. Ghisallo Capital Management LLC owned about 0.41% of Diversified Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Federated Hermes Inc. purchased a new stake in shares of Diversified Energy during the 1st quarter worth approximately $108,000. Summit X LLC purchased a new stake in Diversified Energy in the first quarter worth $140,000. Trexquant Investment LP purchased a new stake in Diversified Energy in the first quarter worth $155,000. ProShare Advisors LLC purchased a new stake in Diversified Energy in the fourth quarter worth $222,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Diversified Energy by 29.3% in the first 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 period. Institutional investors own 26.51% of the company's stock.

Wall Street Analyst Weigh In

DEC has been the topic of a number of recent research reports. Citigroup increased their price target on Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of Diversified Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $21.50.

Diversified Energy Trading Down 3.6%

NYSE DEC traded down $0.56 during trading on Friday, hitting $14.97. The company's stock had a trading volume of 124,311 shares, compared to its average volume of 430,784. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.54 and a quick ratio of 0.40. The business's 50 day simple moving average is $15.11 and its 200-day simple moving average is $13.87. Diversified Energy Company PLC has a fifty-two week low of $10.08 and a fifty-two week high of $17.70.

Diversified Energy Announces Dividend

The company also recently disclosed 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 7.7%. The ex-dividend date is Monday, December 1st.

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.