Tejara Capital Ltd Purchases Shares of 95,119 Diversified Energy Company PLC $DEC

Key Points

• Tejara Capital Ltd has acquired a new stake in Diversified Energy Company PLC (NYSE:DEC) by purchasing 95,119 shares valued at approximately $1.29 million.
• The company declared a quarterly dividend of $0.29 per share, representing an annualized dividend of $1.16 with a yield of 7.6%.
• Diversified Energy's stock recently received a "hold" rating upgrade from Wall Street Zen, along with a "buy" rating and a price objective of $16.00 from Citigroup.

Tejara Capital Ltd bought a new position in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 95,119 shares of the company's stock, valued at approximately $1,286,000. Tejara Capital Ltd owned 0.20% of Diversified Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Diversified Energy by 53.3% during the first quarter. Russell Investments Group Ltd. now owns 77,403 shares of the company's stock valued at $1,046,000 after acquiring an additional 26,899 shares during the period. Nuveen LLC bought a new position in Diversified Energy in the 1st quarter valued at $2,190,000. Swiss National Bank raised its position in Diversified Energy by 20.5% in the 1st quarter. Swiss National Bank now owns 110,056 shares of the company's stock valued at $1,484,000 after purchasing an additional 18,757 shares during the last quarter. Deutsche Bank AG raised its position in Diversified Energy by 10.7% in the 1st quarter. Deutsche Bank AG now owns 131,062 shares of the company's stock valued at $1,772,000 after purchasing an additional 12,681 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Diversified Energy by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,850,221 shares of the company's stock valued at $38,663,000 after purchasing an additional 82,113 shares during the last quarter. Institutional investors own 26.51% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DEC. Citigroup began coverage on shares of Diversified Energy in a research note on Tuesday, April 29th. They issued a "buy" rating and a $16.00 target price for the company. Wall Street Zen raised shares of Diversified Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Diversified Energy currently has an average rating of "Buy" and a consensus price target of $20.75.

Diversified Energy Stock Up 3.7%

NYSE DEC traded up $0.56 on Wednesday, reaching $15.68. The company had a trading volume of 412,760 shares, compared to its average volume of 282,158. The stock's 50 day moving average is $14.80 and its 200-day moving average is $13.91. The company has a current ratio of 0.54, a quick ratio of 0.40 and a debt-to-equity ratio of 3.47. Diversified Energy Company PLC has a 52 week low of $10.08 and a 52 week high of $17.70.

Diversified Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 7.4%. The ex-dividend date of this dividend 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.