Diversified Energy (NYSE:DEC) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Diversified Energy (NYSE:DEC) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks reports.

Several other research analysts have also recently weighed in on the company. Weiss Ratings upgraded Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Truist Financial increased their price objective on Diversified Energy from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Jefferies Financial Group upgraded Diversified Energy to a “hold” rating in a report on Friday, July 10th. Citigroup decreased their target price on Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Finally, Mizuho set a $32.00 target price on shares of Diversified Energy in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Diversified Energy presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Diversified Energy Trading Up 5.3%

NYSE:DEC opened at $14.91 on Monday. The company’s 50 day moving average price is $14.37 and its 200-day moving average price is $14.62. Diversified Energy has a 52 week low of $12.33 and a 52 week high of $18.90. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.96. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 4.62 and a beta of -0.28.

Diversified Energy (NYSE:DEC) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.49). The company had revenue of $442.30 million for the quarter, compared to the consensus estimate of $492.98 million. On average, equities research analysts forecast that Diversified Energy will post 2.82 earnings per share for the current fiscal year.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 2nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Wednesday, December 2nd. Diversified Energy’s dividend payout ratio (DPR) is presently 35.91%.

Institutional Investors Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP bought a new stake in shares of Diversified Energy during the 1st quarter valued at $10,546,000. Artemis Investment Management LLP lifted its stake in shares of Diversified Energy by 8.3% during the 3rd quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company’s stock valued at $82,383,000 after buying an additional 470,823 shares in the last quarter. Walleye Capital LLC boosted its holdings in Diversified Energy by 275.1% in the 1st quarter. Walleye Capital LLC now owns 230,694 shares of the company’s stock worth $4,023,000 after buying an additional 169,198 shares during the period. Bank of America Corp DE boosted its holdings in Diversified Energy by 57.8% in the 1st quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock worth $5,312,000 after buying an additional 111,625 shares during the period. Finally, Tidal Investments LLC purchased a new stake in Diversified Energy in the 2nd quarter worth $988,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Company Profile

Diversified Energy Company plc is an independent energy company that owns and operates a portfolio of mature, producing oil and natural gas wells in the United States. The company focuses on acquiring long-life conventional assets and managing them through their full operating lifecycle, with activities spanning production, maintenance, infrastructure management and well retirement.

The company’s operations are concentrated in established U.S. onshore producing regions, including the Appalachian, Central and Rockies areas.