Diversified Energy Company PLC (NYSE:DEC) Shares Set to Pay Quarterly Dividend of $0.29

Diversified Energy Company PLC (NYSE:DEC) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Friday, February 26th will be given a dividend of $0.29 per share on Wednesday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Friday, February 26th.

Diversified Energy Stock Performance

NYSE DEC opened at $13.36 on Thursday. The firm has a market cap of $945.20 million, a price-to-earnings ratio of 4.13 and a beta of -0.32. The company has a 50-day simple moving average of $14.37 and a two-hundred day simple moving average of $14.42. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.96. Diversified Energy has a 12-month low of $12.35 and a 12-month high of $18.90.

Diversified Energy (NYSE:DEC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.49). The firm had revenue of $442.30 million for the quarter, compared to analysts’ expectations of $492.98 million. On average, equities analysts forecast that Diversified Energy will post 2.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Diversified Energy to a “hold” rating in a research report on Friday, July 10th. Weiss Ratings raised Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Mizuho cut their price target on Diversified Energy from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Citigroup lowered their price objective on Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Finally, Truist Financial raised their price objective on shares of Diversified Energy from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Diversified Energy presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Diversified Energy Company Profile

Diversified Energy Company plc is an independent energy company focused on acquiring, operating and managing mature onshore oil and natural gas assets in the United States. Its portfolio includes producing wells, gathering systems and related infrastructure, with an emphasis on extending the productive life of existing assets through operational improvements and disciplined asset management.

The company’s operations are concentrated in several U.S. regions, including the Appalachian, Central and Rocky Mountain areas.