Graham Capital Management L.P. Acquires New Holdings in Diversified Energy Company PLC $DEC

Key Points

• Graham Capital Management L.P. has acquired a new stake in Diversified Energy Company PLC, purchasing 46,752 shares valued at approximately $632,000, representing about 0.10% ownership of the company.
• Diversified Energy announced a quarterly dividend of $0.29 per share, which indicates an annualized dividend of $1.16, reflecting a yield of 7.7% for shareholders of record.
• Analysts have set a new average price target of $21.50 for Diversified Energy, with Citigroup upgrading its forecast from $16.00 to $19.00 and a consensus rating of "Buy".

Graham Capital Management L.P. bought a new stake in Diversified Energy Company PLC (NYSE:DEC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 46,752 shares of the company's stock, valued at approximately $632,000. Graham Capital Management L.P. owned approximately 0.10% of Diversified Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Diversified Energy by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,748 shares of the company's stock worth $449,000 after acquiring an additional 934 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Diversified Energy by 23.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,744 shares of the company's stock valued at $315,000 after purchasing an additional 3,513 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Diversified Energy by 29.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,264 shares of the company's stock valued at $232,000 after purchasing an additional 3,911 shares in the last quarter. Nuveen Asset Management LLC raised its position in Diversified Energy by 3.8% in 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. Finally, Federated Hermes Inc. acquired a new position in Diversified Energy during the 1st quarter worth $108,000. 26.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DEC. Wall Street Zen raised Diversified Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup raised their price target on Diversified Energy from $16.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Mizuho boosted their price objective on Diversified Energy from $23.00 to $27.00 and gave the stock an "outperform" rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $22.50.

Diversified Energy Stock Performance

Shares of Diversified Energy stock traded down $0.02 on Thursday, hitting $15.73. 289,845 shares of the company's stock traded hands, compared to its average volume of 303,392. The firm's 50-day moving average price is $15.19 and its two-hundred day moving average price is $13.89. 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 one year low of $10.08 and a one year high of $17.70.

Diversified Energy Dividend Announcement

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