Diversified Energy (NYSE:DEC) Stock Price Up 4.1% – Here’s Why

Diversified Energy Company PLC (NYSE:DEC)’s stock price traded up 4.1% during mid-day trading on Tuesday. The company traded as high as $14.66 and last traded at $14.7390. 93,798 shares traded hands during trading, a decline of 90% from the average session volume of 925,714 shares. The stock had previously closed at $14.16.

Analysts Set New Price Targets

Several research analysts recently commented on DEC shares. Zacks Research lowered shares of Diversified Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Citigroup reduced their price target on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Truist Financial boosted their price objective on shares of Diversified Energy from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Mizuho set a $32.00 target price on shares of Diversified Energy in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Diversified Energy has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Diversified Energy Trading Up 4.4%

The firm has a fifty day moving average of $14.34 and a 200 day moving average of $14.64. The firm has a market capitalization of $1.05 billion, a PE ratio of 4.58 and a beta of -0.28. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.57 and a current ratio of 0.57.

Diversified Energy (NYSE:DEC) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The business had revenue of $442.30 million during the quarter, compared to analysts’ expectations of $492.98 million. Equities research analysts expect that Diversified Energy Company PLC will post 2.82 EPS for the current year.

Diversified Energy Dividend Announcement

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

Institutional Investors Weigh In On Diversified Energy

A number of large investors have recently added to or reduced their stakes in DEC. Public Employees Retirement System of Ohio purchased a new stake in Diversified Energy during the 2nd quarter worth $26,000. GAMMA Investing LLC increased its position in shares of Diversified Energy by 443.1% during the third quarter. GAMMA Investing LLC now owns 1,917 shares of the company’s stock worth $26,000 after acquiring an additional 1,564 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Diversified Energy during the fourth quarter worth about $47,000. Versant Capital Management Inc lifted its stake in shares of Diversified Energy by 197.0% in the second quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock worth $68,000 after acquiring an additional 3,256 shares in the last quarter. Finally, Southern Financial Group LLC acquired a new position in shares of Diversified Energy in the first quarter worth about $212,000. 26.51% of the stock is owned by institutional investors and hedge funds.

About Diversified Energy

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.