The Manufacturers Life Insurance Company Trims Position in Diversified Energy Company PLC (NYSE:DEC)

The Manufacturers Life Insurance Company lessened its stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 50.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,257 shares of the company's stock after selling 361,328 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.74% of Diversified Energy worth $5,991,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC grew its holdings in Diversified Energy by 181.8% during the fourth quarter. Signaturefd LLC now owns 7,763 shares of the company's stock worth $130,000 after acquiring an additional 5,008 shares during the period. Walleye Capital LLC acquired a new position in shares of Diversified Energy during the 4th quarter worth $223,000. Callan Family Office LLC purchased a new position in shares of Diversified Energy in the 4th quarter valued at about $248,000. Quadrant Capital Group LLC increased its holdings in shares of Diversified Energy by 51.9% in the 4th quarter. Quadrant Capital Group LLC now owns 16,803 shares of the company's stock valued at $282,000 after purchasing an additional 5,738 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Diversified Energy in the fourth quarter valued at about $293,000. 26.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DEC shares. Mizuho initiated coverage on shares of Diversified Energy in a report on Thursday, April 10th. They issued an "outperform" rating and a $23.00 target price for the company. KeyCorp reduced their price objective on Diversified Energy from $21.00 to $17.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Citigroup assumed coverage on Diversified Energy in a report on Tuesday, April 29th. They issued a "buy" rating and a $16.00 target price on the stock.

Diversified Energy Trading Up 0.2 %

Shares of Diversified Energy stock traded up $0.02 during trading on Friday, hitting $13.12. 312,807 shares of the company were exchanged, compared to its average volume of 363,833. The firm has a 50 day moving average price of $12.31 and a 200 day moving average price of $14.27. Diversified Energy Company PLC has a fifty-two week low of $10.08 and a fifty-two week high of $17.70.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.84%. The ex-dividend date is Friday, May 30th.

About Diversified Energy

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.