Vanguard Group Inc. Buys 82,113 Shares of Diversified Energy Company PLC $DEC

Key Points

• Vanguard Group Inc. increased its stake in Diversified Energy Company PLC by 3.0% during the first quarter, now holding a total of 2,850,221 shares valued at approximately $38.7 million.
• Diversified Energy recently announced a quarterly dividend of $0.29, equating to an annualized dividend of $1.16 and a yield of 7.1%, with the dividend set to be paid on December 31st.
• Wall Street analysts have a consensus Buy rating for Diversified Energy, with a price target increase to $19.00, indicating projected growth opportunities for the company.

Vanguard Group Inc. raised its stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,850,221 shares of the company's stock after purchasing an additional 82,113 shares during the period. Vanguard Group Inc. owned 5.91% of Diversified Energy worth $38,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jupiter Asset Management Ltd. increased 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 worth $38,940,000 after acquiring an additional 141,691 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Diversified Energy in the first quarter worth $108,000. Mackenzie Financial Corp increased its position in shares of Diversified Energy by 78.7% in the first quarter. Mackenzie Financial Corp now owns 180,138 shares of the company's stock worth $2,430,000 after acquiring an additional 79,341 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Diversified Energy by 29.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,264 shares of the company's stock worth $232,000 after acquiring an additional 3,911 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Diversified Energy in the first quarter worth $283,000. Institutional investors and hedge funds own 26.51% of the company's stock.

Diversified Energy Stock Down 1.0%

Shares of Diversified Energy stock traded down $0.17 during trading on Monday, hitting $16.45. The stock had a trading volume of 289,112 shares, compared to its average volume of 293,400. The stock has a 50 day simple moving average of $15.06 and a 200 day simple 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 1 year low of $10.08 and a 1 year high of $17.70.

Diversified Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DEC. Wall Street Zen raised shares of Diversified Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup increased their price objective on shares of Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Diversified Energy presently has a consensus rating of "Buy" and a consensus 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.