Quantbot Technologies LP Invests $706,000 in Diversified Energy Company PLC $DEC

Key Points

• Quantbot Technologies LP has invested approximately $706,000 in Diversified Energy Company PLC by purchasing 52,247 shares, representing about 0.11% ownership.
• Diversified Energy's stock has received positive outlooks from analysts, including a price target increase from Citigroup to $19.00, and an overall average rating of Buy with a price target of $21.50.
• The company will issue a quarterly dividend of $0.29 per share, translating to an annual yield of 7.0%, with the payment date set for December 31st.

Quantbot Technologies LP bought a new position in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 52,247 shares of the company's stock, valued at approximately $706,000. Quantbot Technologies LP owned approximately 0.11% of Diversified Energy at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP lifted its stake in Diversified Energy by 197.4% during the 4th quarter. Quantinno Capital Management LP now owns 43,815 shares of the company's stock worth $736,000 after acquiring an additional 29,084 shares in the last quarter. Artemis Investment Management LLP lifted its stake in 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 acquiring an additional 56,117 shares in the last quarter. Bank of America Corp DE lifted its stake in Diversified Energy by 36.0% during the 4th quarter. Bank of America Corp DE now owns 75,382 shares of the company's stock worth $1,266,000 after acquiring an additional 19,972 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its stake in Diversified Energy by 16.6% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 132,341 shares of the company's stock worth $1,779,000 after acquiring an additional 18,846 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Diversified Energy by 18.7% during the 4th quarter. Deutsche Bank AG now owns 118,381 shares of the company's stock worth $1,989,000 after acquiring an additional 18,638 shares in the last quarter. Institutional investors and hedge funds own 26.51% of the company's stock.

Diversified Energy Price Performance

DEC stock traded down $0.17 during mid-day trading on Friday, reaching $16.45. The company had a trading volume of 289,112 shares, compared to its average volume of 299,593. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.54 and a quick ratio of 0.40. The firm has a fifty day simple moving average of $15.03 and a 200 day simple moving average of $13.87. Diversified Energy Company PLC has a fifty-two week low of $10.08 and a fifty-two week high of $17.70.

Diversified Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Monday, December 1st.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup increased their target price on Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Wall Street Zen raised Diversified Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $21.50.

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.