Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 3,251,802 shares, a growth of 52.9% from the March 15th total of 2,126,571 shares. Based on an average daily trading volume, of 2,162,518 shares, the short-interest ratio is presently 1.5 days. Approximately 4.5% of the company’s stock are sold short.

Diversified Energy Stock Down 2.2%

Shares of Diversified Energy stock traded down $0.36 during trading on Tuesday, hitting $15.80. 370,468 shares of the stock were exchanged, compared to its average volume of 984,308. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 10.73 and a beta of -0.23. The firm’s 50-day moving average price is $14.91 and its 200 day moving average price is $14.21. Diversified Energy has a 12-month low of $11.20 and a 12-month high of $18.90. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.60 and a quick ratio of 0.60.

Diversified Energy (NYSE:DEC) last released its quarterly earnings data on Friday, February 6th. The company reported $2.28 earnings per share (EPS) for the quarter. As a group, analysts forecast that Diversified Energy will post 0.18 earnings per share for the current fiscal year.

Diversified Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 7.3%. Diversified Energy’s payout ratio is 78.91%.

Institutional Investors Weigh In On Diversified Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DEC. EIG Asset Management LLC acquired a new position in Diversified Energy in the fourth quarter valued at $139,031,000. Ameriprise Financial Inc. acquired a new position in Diversified Energy in the second quarter valued at $53,894,000. Jupiter Asset Management Ltd. acquired a new position in Diversified Energy in the fourth quarter valued at $46,334,000. Man Group plc acquired a new position in Diversified Energy in the fourth quarter valued at $27,463,000. Finally, Artemis Investment Management LLP increased its stake in Diversified Energy by 114.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock valued at $37,555,000 after purchasing an additional 1,384,073 shares during the period. 26.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DEC has been the subject of several recent research reports. Weiss Ratings raised shares of Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Wall Street Zen cut shares of Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Zacks Research raised shares of Diversified Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. KeyCorp raised their price target on shares of Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Finally, Truist Financial decreased their price target on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.40.

Diversified Energy Company 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.