Quantbot Technologies LP Buys New Position 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 acquired a new stake in Diversified Energy Company PLC (NYSE:DEC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 52,247 shares of the company's stock, valued at approximately $706,000. Quantbot Technologies LP owned approximately 0.11% of Diversified Energy as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. bought a new stake in shares of Diversified Energy in the 1st quarter valued at $108,000. Summit X LLC bought a new stake in Diversified Energy during the 1st quarter valued at $140,000. ProShare Advisors LLC bought a new stake in Diversified Energy during the 4th quarter valued at $222,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Diversified Energy by 29.3% during the 1st 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 in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Diversified Energy during the 1st quarter valued at $283,000. Institutional investors own 26.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DEC. 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 increased their price target on shares of Diversified Energy from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $21.50.

Diversified Energy Trading Up 1.0%

Shares of Diversified Energy stock traded up $0.16 on Thursday, reaching $16.59. The stock had a trading volume of 287,324 shares, compared to its average volume of 436,118. Diversified Energy Company PLC has a 1 year low of $10.08 and a 1 year high of $17.70. 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's 50 day moving average is $14.97 and its two-hundred day moving average is $13.90.

Diversified Energy Dividend Announcement

The company 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Monday, December 1st.

Diversified Energy 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.