Diversified Energy (NYSE:DEC) Given New $15.00 Price Target at Citigroup

Diversified Energy (NYSE:DEC) had its price target dropped by investment analysts at Citigroup from $17.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 14.85% from the company’s current price.

Several other analysts have also issued reports on DEC. Weiss Ratings reiterated a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, January 21st. William Blair initiated coverage on shares of Diversified Energy in a research note on Tuesday, November 18th. They issued an “outperform” rating on the stock. Wall Street Zen raised Diversified Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Mizuho boosted their price target on Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, Johnson Rice raised shares of Diversified Energy from an “accumulate” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $23.00 in a report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.50.

Diversified Energy Price Performance

Shares of DEC traded up $0.07 during mid-day trading on Wednesday, reaching $13.06. The company’s stock had a trading volume of 316,681 shares, compared to its average volume of 568,764. The business has a fifty day moving average of $13.94 and a 200 day moving average of $14.30. Diversified Energy has a 1 year low of $10.08 and a 1 year high of $17.24.

Insider Buying and Selling at Diversified Energy

In related news, Director Randall S. Wade sold 2,100,000 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $13.28, for a total value of $27,888,000.00. Following the completion of the sale, the director owned 7,501,585 shares in the company, valued at $99,621,048.80. This represents a 21.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Diversified Energy

Several hedge funds have recently bought and sold shares of the stock. Bailard Inc. boosted its position in shares of Diversified Energy by 39.3% during the fourth quarter. Bailard Inc. now owns 18,800 shares of the company’s stock worth $272,000 after buying an additional 5,300 shares during the period. ABC Arbitrage SA bought a new position in shares of Diversified Energy in the fourth quarter valued at $164,000. Premier Fund Managers Ltd bought a new stake in shares of Diversified Energy in the 4th quarter valued at about $12,069,000. Artemis Investment Management LLP lifted its position in shares of 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 buying an additional 1,384,073 shares during the last quarter. Finally, Skylands Capital LLC acquired a new stake in Diversified Energy during the 4th quarter valued at $610,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.

About Diversified Energy

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.