Diversified Energy Company PLC (NYSE:DEC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 50.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. 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 approximately 0.74% of Diversified Energy worth $5,991,000 at the end of the most recent quarter.

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

Diversified Energy Stock Performance

NYSE DEC traded up $0.42 during trading hours on Tuesday, hitting $13.68. 173,861 shares of the company's stock were exchanged, compared to its average volume of 364,397. The business's 50 day moving average is $12.33 and its 200-day moving average is $14.32. Diversified Energy Company PLC has a 12-month low of $10.08 and a 12-month high of $17.70.

Diversified Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 8.48%.

Analysts Set New Price Targets

DEC has been the topic of a number of analyst reports. Mizuho began coverage on Diversified Energy in a report on Thursday, April 10th. They set an "outperform" rating and a $23.00 target price on the stock. Citigroup started coverage on Diversified Energy in a research note on Tuesday, April 29th. They set a "buy" rating and a $16.00 price objective on the stock. Finally, KeyCorp reduced their target price on shares of Diversified Energy from $21.00 to $17.00 and set an "overweight" rating on the stock in a report on Monday, April 21st.

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.