Walleye Capital LLC Increases Stock Holdings in Diversified Energy Company PLC $DEC

Key Points

• Walleye Capital LLC significantly increased its stake in Diversified Energy Company PLC by 1,164.0%, totaling approximately 0.35% ownership valued at $2.27 million as of the end of the first quarter.
• Brokerages have upgraded Diversified Energy's stock rating, with Citigroup raising the price target from $16.00 to $19.00 and assigning a "buy" rating.
• Diversified Energy declared a $0.29 quarterly dividend, with a yield of 7.0%, to be paid to shareholders of record on December 1st.

Walleye Capital LLC increased its holdings in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 1,164.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,984 shares of the company's stock after acquiring an additional 154,694 shares during the quarter. Walleye Capital LLC owned about 0.35% of Diversified Energy worth $2,271,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Federated Hermes Inc. bought a new position in Diversified Energy during the first quarter worth about $108,000. Summit X LLC bought a new position in Diversified Energy during the first quarter worth about $140,000. ProShare Advisors LLC bought a new position in Diversified Energy in the 4th quarter valued at about $222,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Diversified Energy by 29.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,264 shares of the company's stock valued at $232,000 after buying an additional 3,911 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Diversified Energy in the 1st quarter valued at about $283,000. 26.51% of the stock is owned by institutional investors.

Diversified Energy Price Performance

Shares of NYSE:DEC traded down $0.13 during mid-day trading on Wednesday, hitting $15.77. The company had a trading volume of 73,608 shares, compared to its average volume of 432,429. The firm has a fifty day moving average price of $15.08 and a 200 day moving average price of $13.87. 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 one year low of $10.08 and a one year high of $17.70.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a $0.29 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.16 annualized dividend and a dividend yield of 7.4%.

Analysts Set New Price Targets

Several research firms have commented on DEC. Citigroup raised their target price on shares of Diversified Energy from $16.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Wall Street Zen upgraded shares of Diversified Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company 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.