Diversified Energy Company PLC (NYSE:DEC) Announces $0.29 Quarterly Dividend

Diversified Energy Company PLC (NYSE:DEC) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Friday, August 28th will be paid a dividend of 0.29 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 28th.

Diversified Energy Price Performance

Shares of Diversified Energy stock traded down $0.05 on Thursday, reaching $15.30. 147,020 shares of the stock were exchanged, compared to its average volume of 923,496. The firm’s 50 day moving average is $15.64 and its 200-day moving average is $14.45. Diversified Energy has a one year low of $12.33 and a one year high of $18.90. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market cap of $1.11 billion, a PE ratio of 10.42 and a beta of -0.34.

Diversified Energy (NYSE:DEC) last issued its quarterly earnings results on Friday, February 6th. The company reported $2.28 earnings per share for the quarter. As a group, analysts anticipate that Diversified Energy will post 3.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DEC. Truist Financial cut their price target on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Stephens initiated coverage on shares of Diversified Energy in a research report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 target price on the stock. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings raised shares of Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, 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 note on Thursday, April 2nd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.83.

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.