Swiss National Bank Boosts Holdings in Diversified Energy Company PLC $DEC

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 grew 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 disclosure with the Securities & Exchange Commission. The firm owned 110,056 shares of the company's stock after purchasing an additional 18,757 shares during the quarter. Swiss National Bank owned about 0.23% of Diversified Energy worth $1,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in Diversified Energy by 1.7% during the fourth quarter. Invesco Ltd. now owns 39,195 shares of the company's stock worth $658,000 after purchasing an additional 638 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Diversified Energy by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,748 shares of the company's stock worth $449,000 after purchasing an additional 934 shares during the period. Wells Fargo & Company MN boosted its position in Diversified Energy by 4.1% during the fourth quarter. Wells Fargo & Company MN now owns 27,287 shares of the company's stock worth $458,000 after purchasing an additional 1,085 shares during the period. MetLife Investment Management LLC boosted its position in Diversified Energy by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 29,267 shares of the company's stock worth $492,000 after purchasing an additional 1,597 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Diversified Energy by 23.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,744 shares of the company's stock worth $315,000 after purchasing an additional 3,513 shares during the period. Institutional investors own 26.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DEC. 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 raised their price objective 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 MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $21.50.

Diversified Energy Price Performance

Diversified Energy stock traded down $0.17 during mid-day trading on Friday, hitting $16.45. 289,112 shares of the company traded hands, compared to its average volume of 299,593. Diversified Energy Company PLC has a one year low of $10.08 and a one 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 stock has a fifty day moving average price of $15.03 and a 200-day moving average price of $13.87.

Diversified Energy Announces Dividend

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

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.