Pentwater Capital Management LP acquired a new stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 240,000 shares of the company's stock, valued at approximately $3,245,000. Pentwater Capital Management LP owned 0.50% of Diversified Energy as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DEC. Woodline Partners LP bought a new stake in shares of Diversified Energy during the 4th quarter valued at $6,274,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Diversified Energy during the 1st quarter valued at $3,988,000. Millennium Management LLC raised its stake in shares of Diversified Energy by 687.7% during the 4th quarter. Millennium Management LLC now owns 308,987 shares of the company's stock valued at $5,191,000 after purchasing an additional 269,759 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Diversified Energy by 85.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 471,206 shares of the company's stock valued at $6,371,000 after purchasing an additional 216,486 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in shares of Diversified Energy by 112.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company's stock valued at $6,463,000 after purchasing an additional 203,700 shares during the period. 26.51% of the stock is currently owned by institutional investors.
Diversified Energy Trading Up 4.6%
DEC stock traded up $0.69 during mid-day trading on Tuesday, hitting $15.56. 359,926 shares of the stock were exchanged, compared to its average volume of 289,092. The company has a current ratio of 0.54, a quick ratio of 0.40 and a debt-to-equity ratio of 3.47. The business has a fifty day moving average price of $15.14 and a 200 day moving average price of $13.86. 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 company also recently declared 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. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 annualized dividend and a yield of 7.5%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on DEC. Mizuho boosted their price objective on Diversified Energy from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Tuesday. Wall Street Zen upgraded Diversified Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup boosted their target price on Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $22.50.
View Our Latest Stock Analysis on Diversified Energy
Diversified Energy Profile
(
Free Report)
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.
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