Millennium Management LLC Boosts Stake in Diversified Energy Company PLC (NYSE:DEC)

Millennium Management LLC lifted its position in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 687.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 308,987 shares of the company's stock after purchasing an additional 269,759 shares during the period. Millennium Management LLC owned about 0.64% of Diversified Energy worth $5,191,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DEC. Vanguard Group Inc. increased its position in Diversified Energy by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company's stock valued at $46,319,000 after acquiring an additional 468,312 shares during the period. Barclays PLC increased its position in Diversified Energy by 166.9% in the 3rd quarter. Barclays PLC now owns 516,535 shares of the company's stock valued at $5,876,000 after acquiring an additional 322,986 shares during the period. Balyasny Asset Management L.P. increased its position in Diversified Energy by 112.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company's stock valued at $6,463,000 after acquiring an additional 203,700 shares during the period. Northern Trust Corp increased its position in Diversified Energy by 3.0% in the 4th quarter. Northern Trust Corp now owns 283,820 shares of the company's stock valued at $4,768,000 after acquiring an additional 8,375 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in Diversified Energy in the 4th quarter valued at about $2,627,000. Institutional investors and hedge funds own 26.51% of the company's stock.

Diversified Energy Stock Up 1.1%

Diversified Energy stock traded up $0.16 during trading on Monday, reaching $14.13. 380,000 shares of the company's stock were exchanged, compared to its average volume of 374,839. The company's 50-day moving average is $12.80 and its two-hundred day moving average is $14.45. Diversified Energy Company PLC has a 52-week low of $10.08 and a 52-week high of $17.70.

Diversified Energy Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 8.21%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup assumed coverage on Diversified Energy in a research report on Tuesday, April 29th. They issued a "buy" rating and a $16.00 price target on the stock. Mizuho began coverage on Diversified Energy in a report on Thursday, April 10th. They issued an "outperform" rating and a $23.00 price objective on the stock. KeyCorp lowered their price objective on Diversified Energy from $21.00 to $17.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen raised Diversified Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.75.

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.