Woodline Partners LP Boosts Stock Position in Diversified Energy Company PLC $DEC

Key Points

• Woodline Partners LP significantly increased its stake in Diversified Energy Company PLC by 82.2%, acquiring 307,133 additional shares, bringing its total to 680,580 shares valued at approximately $9.2 million.
• Several institutional investors have also boosted their positions in DEC, with notable increases from Price T Rowe Associates Inc. and Jane Street Group LLC.
• Diversified Energy recently announced a quarterly dividend of $0.29 per share with a yield of 7.4%, payable on December 31st to shareholders of record on December 1st.

Woodline Partners LP grew its stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 82.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 680,580 shares of the company's stock after acquiring an additional 307,133 shares during the quarter. Woodline Partners LP owned about 1.41% of Diversified Energy worth $9,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC increased its holdings in shares of Diversified Energy by 95.8% during the first quarter. Empowered Funds LLC now owns 268,664 shares of the company's stock valued at $3,632,000 after acquiring an additional 131,444 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Diversified Energy by 177.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company's stock valued at $16,060,000 after acquiring an additional 760,428 shares in the last quarter. Pentwater Capital Management LP bought a new position in shares of Diversified Energy during the first quarter valued at $3,245,000. Petrus Trust Company LTA bought a new position in shares of Diversified Energy during the first quarter valued at $206,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Diversified Energy by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company's stock valued at $377,000 after acquiring an additional 1,170 shares in the last quarter. 26.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DEC. Wall Street Zen upgraded Diversified Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Mizuho reduced their price objective on Diversified Energy from $27.00 to $26.00 and set an "outperform" rating for the company in a report on Monday. Finally, Citigroup lifted their price objective on Diversified Energy from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $22.25.

Diversified Energy Stock Performance

NYSE:DEC traded down $1.09 on Wednesday, hitting $14.32. The stock had a trading volume of 1,163,821 shares, compared to its average volume of 430,124. The company has a current ratio of 0.54, a quick ratio of 0.40 and a debt-to-equity ratio of 3.47. The business's 50-day simple moving average is $15.25 and its two-hundred day simple moving average is $13.92. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Monday, December 1st.

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.