162,136 Shares in Diversified Energy Company PLC $DEC Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired 162,136 shares of Diversified Energy Company PLC (DEC), valued at approximately $2.19 million, which represents a 0.34% ownership stake in the company.
• The company has announced a quarterly dividend of $0.29 per share, resulting in an annualized yield of 7.1%, with the payment date set for December 31st.
• Equity analysts have mostly rated DEC as a "buy," with Citigroup raising its price target from $16.00 to $19.00 and a consensus target price of $21.50 among investment analysts.

Nuveen LLC purchased a new position in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 162,136 shares of the company's stock, valued at approximately $2,190,000. Nuveen LLC owned about 0.34% of Diversified Energy as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. purchased a new position in shares of Diversified Energy during the 1st quarter valued at $108,000. Summit X LLC bought a new stake in Diversified Energy in the 1st quarter valued at about $140,000. ProShare Advisors LLC bought a new stake in Diversified Energy in the 4th quarter valued at about $222,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Diversified Energy by 29.3% during 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Diversified Energy by 23.1% during the fourth 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 period. Hedge funds and other institutional investors own 26.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on DEC shares. Wall Street Zen upgraded shares of Diversified Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup boosted their target price on shares of Diversified Energy from $16.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $21.50.

Diversified Energy Price Performance

Shares of NYSE DEC traded down $0.19 during midday trading on Thursday, hitting $15.52. 250,816 shares of the company's stock were exchanged, compared to its average volume of 298,759. The company has a quick ratio of 0.40, a current ratio of 0.54 and a debt-to-equity ratio of 3.47. The business's fifty day moving average price is $15.11 and its two-hundred day moving average price is $13.87. Diversified Energy Company PLC has a 12-month low of $10.08 and a 12-month high of $17.70.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.5%.

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.