Diversified Energy Company PLC $DEC Shares Bought by Swiss National Bank

Key Points

• The Swiss National Bank increased its stake in Diversified Energy Company by 20.5%, totaling approximately $1.48 million in holdings following recent acquisitions.
• Analysts have upgraded Diversified Energy's stock rating from a "sell" to a "hold," with Citigroup increasing its price target from $16.00 to $19.00, indicating a positive market outlook.
• Diversified Energy announced a quarterly dividend of $0.29 per share, reflecting a 7.0% annual yield due to be paid at the end of December.

Swiss National Bank raised its holdings in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 20.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,056 shares of the company's stock after buying an additional 18,757 shares during the quarter. Swiss National Bank owned about 0.23% of Diversified Energy worth $1,484,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DEC. Woodline Partners LP purchased a new stake in Diversified Energy during the 4th quarter valued at about $6,274,000. Millennium Management LLC lifted its stake in Diversified Energy by 687.7% in the 4th quarter. Millennium Management LLC now owns 308,987 shares of the company's stock worth $5,191,000 after purchasing an additional 269,759 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings 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 worth $6,463,000 after purchasing an additional 203,700 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Diversified Energy by 5.2% in the first quarter. Jupiter Asset Management Ltd. now owns 2,892,480 shares of the company's stock valued at $38,940,000 after purchasing an additional 141,691 shares in the last quarter. Finally, Castalian Partners LLC acquired a new stake in shares of Diversified Energy in the fourth quarter valued at approximately $1,680,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DEC. Citigroup upped their target price on Diversified Energy from $16.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Wall Street Zen raised shares of 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.com, Diversified Energy presently has an average rating of "Buy" and a consensus price target of $21.50.

Diversified Energy Stock Performance

Shares of DEC stock traded up $0.16 during trading hours on Thursday, hitting $16.59. The company had a trading volume of 287,324 shares, compared to its average volume of 436,118. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.40 and a current ratio of 0.54. The company's fifty day moving average is $14.97 and its 200 day moving average is $13.90. 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 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. This represents a $1.16 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Monday, December 1st.

About Diversified Energy

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.