Diversified Energy Company PLC $DEC Shares Purchased by PDT Partners LLC

Key Points

• PDT Partners LLC has increased its stake in Diversified Energy Company PLC by 76.2%, acquiring an additional 25,072 shares and now owns a total of 57,958 shares valued at approximately $784,000.
• Various institutional investors, including Federated Hermes Inc. and Summit X LLC, have made new investments or increased their positions in Diversified Energy, with institutional holdings now accounting for 26.51% of the stock.
• Analysts have raised the target price for Diversified Energy to $19.00 following a "buy" rating, while the stock currently holds an average rating of "Buy" with a projected target price of $21.50.

PDT Partners LLC raised its holdings in Diversified Energy Company PLC (NYSE:DEC - Free Report) by 76.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,958 shares of the company's stock after acquiring an additional 25,072 shares during the quarter. PDT Partners LLC owned 0.12% of Diversified Energy worth $784,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Jupiter Asset Management Ltd. raised its stake in shares of Diversified Energy by 5.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,892,480 shares of the company's stock worth $38,940,000 after buying an additional 141,691 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Diversified Energy by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,850,221 shares of the company's stock worth $38,663,000 after buying an additional 82,113 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of Diversified Energy by 15.8% during the 1st quarter. Artemis Investment Management LLP now owns 412,027 shares of the company's stock worth $5,571,000 after purchasing an additional 56,117 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Diversified Energy by 112.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company's stock worth $6,463,000 after buying an additional 203,700 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Diversified Energy in the fourth quarter valued at approximately $6,274,000. Institutional investors and hedge funds own 26.51% of the company's stock.

Diversified Energy Price Performance

DEC stock traded up $0.91 during midday trading on Tuesday, reaching $15.78. 176,800 shares of the company's stock traded hands, compared to its average volume of 428,848. The company has a current ratio of 0.54, a quick ratio of 0.40 and a debt-to-equity ratio of 3.47. Diversified Energy Company PLC has a fifty-two week low of $10.08 and a fifty-two week high of $17.70. The business has a 50-day moving average price of $15.12 and a two-hundred day moving average price of $13.85.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.4%. The ex-dividend date is Monday, December 1st.

Wall Street Analysts Forecast Growth

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

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.