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 disclosure with the SEC. The firm 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 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DEC. Wells Fargo & Company MN lifted its position in shares of Diversified Energy by 4.1% in the fourth quarter. Wells Fargo & Company MN now owns 27,287 shares of the company's stock valued at $458,000 after acquiring an additional 1,085 shares in the last quarter. Invesco Ltd. lifted its position in shares of Diversified Energy by 1.7% in the fourth quarter. Invesco Ltd. now owns 39,195 shares of the company's stock valued at $658,000 after acquiring an additional 638 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Diversified Energy by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 29,267 shares of the company's stock valued at $492,000 after acquiring an additional 1,597 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Diversified Energy by 23.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,744 shares of the company's stock valued at $315,000 after acquiring an additional 3,513 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Diversified Energy by 3.0% in the fourth quarter. Northern Trust Corp now owns 283,820 shares of the company's stock valued at $4,768,000 after acquiring an additional 8,375 shares in the last quarter. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Diversified Energy Price Performance

NYSE:DEC opened at $16.42 on Wednesday. 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 12 month low of $10.08 and a 12 month high of $17.70. The business's 50-day moving average is $14.95 and its 200 day moving average is $13.88.

Diversified Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DEC. Citigroup boosted their price objective on Diversified Energy from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Wall Street Zen upgraded Diversified Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Diversified Energy presently has a consensus rating of "Buy" and a consensus price target 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.

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