State of Wyoming Acquires Shares of 19,624 Diversified Energy Company PLC $DEC

Key Points

• The State of Wyoming invested approximately $266,000 in Diversified Energy Company PLC, acquiring 19,624 shares during the first quarter.
• Diversified Energy will pay a quarterly dividend of $0.29 with an annualized dividend yield of 7.3%, payable on December 31st.
• Several institutional investors, including Federated Hermes Inc. and Summit X LLC, have recently acquired new positions in Diversified Energy, indicating strong institutional interest in the company.

State of Wyoming bought a new stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 19,624 shares of the company's stock, valued at approximately $266,000.

Several other institutional investors have also recently added to or reduced their stakes in DEC. Woodline Partners LP bought a new stake in Diversified Energy during the fourth quarter valued at $6,274,000. Millennium Management LLC increased its stake in Diversified Energy by 687.7% during the fourth 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 last quarter. Balyasny Asset Management L.P. increased its stake in Diversified Energy by 112.5% during the fourth 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 last quarter. Nuveen LLC bought a new stake in Diversified Energy during the first quarter valued at $2,190,000. Finally, Walleye Capital LLC increased its stake in Diversified Energy by 1,164.0% during the first quarter. Walleye Capital LLC now owns 167,984 shares of the company's stock valued at $2,271,000 after purchasing an additional 154,694 shares during the last quarter. Institutional investors own 26.51% of the company's stock.

Diversified Energy Price Performance

DEC traded down $0.50 on Friday, reaching $15.03. The company had a trading volume of 214,047 shares, compared to its average volume of 302,698. The company has a fifty day moving average of $15.11 and a 200-day moving average of $13.85. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.40 and a current ratio of 0.54. Diversified Energy Company PLC has a one year low of $10.08 and a one year high of $17.70.

Diversified Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders 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 yield of 7.7%. The ex-dividend date of this dividend is Monday, December 1st.

Wall Street Analysts Forecast Growth

DEC has been the subject of several recent research reports. Citigroup boosted their target price 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. Wall Street Zen upgraded shares of Diversified Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $21.50.

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.