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

Millennium Management LLC increased its holdings in Diversified Energy Company PLC (NYSE:DEC - Free Report) by 687.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,987 shares of the company's stock after acquiring 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 quarter.

Several other large investors have also added to or reduced their stakes in the business. Signaturefd LLC increased its holdings in Diversified Energy by 181.8% during the 4th quarter. Signaturefd LLC now owns 7,763 shares of the company's stock worth $130,000 after purchasing an additional 5,008 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Diversified Energy during the fourth quarter valued at approximately $223,000. Callan Family Office LLC purchased a new position in shares of Diversified Energy during the fourth quarter valued at approximately $248,000. Quadrant Capital Group LLC raised its position in Diversified Energy by 51.9% in the 4th quarter. Quadrant Capital Group LLC now owns 16,803 shares of the company's stock valued at $282,000 after buying an additional 5,738 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Diversified Energy during the 4th quarter valued at $293,000. Institutional investors own 26.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Mizuho assumed coverage on shares of Diversified Energy in a report on Thursday, April 10th. They set an "outperform" rating and a $23.00 price objective on the stock. KeyCorp cut their price target on shares of Diversified Energy from $21.00 to $17.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. 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 initiated coverage on shares of Diversified Energy in a research report on Tuesday, April 29th. They set a "buy" rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Diversified Energy has a consensus rating of "Moderate Buy" and an average target price of $20.75.

Diversified Energy Stock Down 1.2%

Shares of DEC stock traded down $0.17 on Friday, hitting $13.98. 445,877 shares of the stock were exchanged, compared to its average volume of 374,825. The firm's 50 day moving average is $12.79 and its two-hundred day moving average is $14.45. Diversified Energy Company PLC has a one year low of $10.08 and a one year 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 paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date of this dividend is Friday, August 29th.

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.