Diversified Energy (NYSE:DEC) Lowered to Hold Rating by Zacks Research

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

Several other analysts have also recently commented on DEC. Stephens began coverage on shares of Diversified Energy in a research note on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price target on the stock. Citigroup lifted their target price on Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Truist Financial decreased their target price on Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings lowered Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, KeyCorp raised their price target on Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.83.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $13.94 on Tuesday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 3.96 and a beta of -0.40. The firm has a fifty day moving average price of $14.56 and a 200 day moving average price of $14.52. Diversified Energy has a fifty-two week low of $12.33 and a fifty-two week high of $18.90. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.47 and a current ratio of 0.47.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, August 28th will be given a $0.29 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 8.3%. Diversified Energy’s dividend payout ratio (DPR) is currently 32.95%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Diversified Energy by 0.5% during the 1st quarter. Royal Bank of Canada now owns 140,160 shares of the company’s stock worth $2,445,000 after purchasing an additional 748 shares during the period. Quadrant Capital Group LLC lifted its stake in Diversified Energy by 8.1% in the third quarter. Quadrant Capital Group LLC now owns 11,500 shares of the company’s stock worth $161,000 after purchasing an additional 863 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Diversified Energy by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock worth $377,000 after purchasing an additional 1,170 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Diversified Energy by 7.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,333 shares of the company’s stock valued at $280,000 after buying an additional 1,399 shares during the period. Finally, Quarry LP boosted its position in shares of Diversified Energy by 1,595.2% during the third quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after buying an additional 1,994 shares during the period. Institutional investors own 26.51% of the company’s stock.

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.