Walleye Capital LLC Has $4.02 Million Stock Holdings in Diversified Energy Company PLC $DEC

Key Points

• Walleye Capital LLC increased its stake in Diversified Energy by 275.1% in the first quarter, ending with 230,694 shares valued at about $4.02 million.
• Diversified Energy’s shares were trading around $13.38, giving the company a market cap of about $968 million; the stock also carries a high dividend yield of 8.7% with a quarterly payout of $0.29 per share.
• Wall Street sentiment is still fairly positive, with seven Buy ratings and three Hold ratings; the consensus price target is about $21.17, well above the current price.

Walleye Capital LLC grew its stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 275.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 230,694 shares of the company's stock after purchasing an additional 169,198 shares during the period. Walleye Capital LLC owned about 0.32% of Diversified Energy worth $4,023,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DEC. Quarry LP lifted its stake in Diversified Energy by 1,595.2% during the third quarter. Quarry LP now owns 2,119 shares of the company's stock valued at $30,000 after buying an additional 1,994 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Diversified Energy during the fourth quarter valued at approximately $32,000. Ensign Peak Advisors Inc acquired a new stake in shares of Diversified Energy during the fourth quarter valued at approximately $35,000. Tower Research Capital LLC TRC lifted its position in shares of Diversified Energy by 261.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company's stock valued at $74,000 after acquiring an additional 3,666 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Diversified Energy in the 4th quarter worth approximately $111,000. Institutional investors and hedge funds own 26.51% of the company's stock.

Diversified Energy Stock Performance

Shares of DEC opened at $13.38 on Thursday. The company has a market capitalization of $968.00 million, a PE ratio of 3.80 and a beta of -0.40. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.47 and a current ratio of 0.47. The company's 50 day moving average price is $14.06 and its 200 day moving average price is $14.46. Diversified Energy Company PLC has a 52 week low of $12.33 and a 52 week high of $18.90.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Friday, August 28th. Diversified Energy's payout ratio is currently 32.95%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Weiss Ratings cut shares of Diversified Energy from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. KeyCorp increased their target price on Diversified Energy from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday, April 2nd. Citigroup decreased their target price on Diversified Energy from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday. Stephens assumed coverage on Diversified Energy in a report on Wednesday, April 15th. They set an "overweight" rating and a $24.00 price target on the stock. Finally, Zacks Research lowered Diversified Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $21.17.

Diversified Energy Profile

Diversified Energy Company PLC NYSE: DEC is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.

Want to see what other hedge funds are holding DEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diversified Energy Company PLC (NYSE:DEC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.