Diversified Energy Company PLC (NYSE:DEC) Stock Has Consensus Target Price of $22.00 According to Brokerages

Shares of Diversified Energy Company PLC (NYSE:DEC) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.00.

A number of equities analysts recently issued reports on the company. Mizuho lowered their price target on Diversified Energy from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Weiss Ratings downgraded Diversified Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday. Zacks Research raised Diversified Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. William Blair began coverage on Diversified Energy in a research report on Wednesday, November 4th. They set a “strong-buy” rating for the company. Finally, Citigroup lowered their target price on Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st.

Diversified Energy Trading Up 2.7%

NYSE DEC opened at $13.77 on Friday. The firm’s fifty day moving average is $14.18 and its two-hundred day moving average is $14.43. Diversified Energy has a one year low of $12.35 and a one year high of $18.90. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $973.45 million, a PE ratio of 4.93 and a beta of -0.32.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Friday, February 26th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Friday, February 26th. Diversified Energy’s dividend payout ratio is 41.58%.

Hedge Funds Weigh In On Diversified Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of DEC. Public Employees Retirement System of Ohio acquired a new stake in shares of Diversified Energy in the 2nd quarter worth $26,000. GAMMA Investing LLC increased its stake 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 period. Fortitude Family Office LLC acquired a new position in shares of Diversified Energy during the third quarter worth about $37,000. Versant Capital Management Inc raised its holdings in Diversified Energy by 197.0% during the second quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock worth $68,000 after purchasing an additional 3,256 shares in the last quarter. Finally, Southern Financial Group LLC purchased a new position in Diversified Energy during the first quarter worth about $212,000. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Diversified Energy Company Profile

Diversified Energy Company plc is an independent energy company focused on acquiring, operating and managing established natural gas and oil assets. Its production includes natural gas, natural gas liquids and oil. The company also owns and operates infrastructure used to gather and transport production, including pipelines and compression facilities. Its approach emphasizes maintaining and improving mature wells over their operating lives, as well as managing emissions and eventual well retirement.