Russell Investments Group Ltd. Purchases 26,899 Shares of Diversified Energy Company PLC $DEC

Key Points

• Russell Investments Group Ltd. increased its stake in Diversified Energy Company PLC by 53.3%, acquiring an additional 26,899 shares, bringing their total ownership to 77,403 shares valued at approximately $1,046,000.
• Diversified Energy has received favorable ratings from Wall Street analysts, with Citigroup raising its price target from $16.00 to $19.00 and four analysts giving it a "Buy" rating, indicating a strong outlook for the stock.
• The company announced a quarterly dividend of $0.29 to be paid on December 31st, representing an annualized yield of 7.0%, with a record date of December 1st.

Russell Investments Group Ltd. grew its position in Diversified Energy Company PLC (NYSE:DEC - Free Report) by 53.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,403 shares of the company's stock after purchasing an additional 26,899 shares during the period. Russell Investments Group Ltd. owned about 0.16% of Diversified Energy worth $1,046,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new position in Diversified Energy during the 1st quarter worth about $108,000. Summit X LLC acquired a new position in Diversified Energy during the 1st quarter worth about $140,000. ProShare Advisors LLC acquired a new position in Diversified Energy during the 4th quarter worth about $222,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Diversified Energy by 29.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,264 shares of the company's stock worth $232,000 after buying an additional 3,911 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Diversified Energy during the 1st quarter worth about $283,000. Institutional investors and hedge funds own 26.51% of the company's stock.

Diversified Energy Stock Down 1.2%

Shares of NYSE DEC traded down $0.19 during midday trading on Wednesday, reaching $15.72. The company's stock had a trading volume of 273,593 shares, compared to its average volume of 284,446. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.54 and a quick ratio of 0.40. Diversified Energy Company PLC has a fifty-two week low of $10.08 and a fifty-two week high of $17.70. The stock has a 50 day simple moving average of $15.09 and a 200-day simple moving average of $13.88.

Diversified Energy Announces Dividend

The firm also recently disclosed 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 is Monday, December 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.4%.

Wall Street Analyst Weigh In

DEC has been the topic of several research reports. Wall Street Zen upgraded shares of Diversified Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup upped their target price 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 equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Diversified Energy currently 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.