Diversified Energy Company PLC (NYSE:DEC) Sees Significant Drop in Short Interest

Diversified Energy Company PLC (NYSE:DEC) was the target of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 2,401,784 shares, a decline of 16.5% from the January 15th total of 2,874,860 shares. Based on an average daily volume of 562,756 shares, the short-interest ratio is presently 4.3 days. Based on an average daily volume of 562,756 shares, the short-interest ratio is presently 4.3 days.

Diversified Energy Stock Performance

Diversified Energy stock traded up $0.33 during midday trading on Wednesday, reaching $13.42. 506,497 shares of the company were exchanged, compared to its average volume of 562,662. The firm’s 50-day simple moving average is $13.56 and its 200-day simple moving average is $14.18. Diversified Energy has a 1 year low of $10.08 and a 1 year high of $16.85. The company has a market capitalization of $646.87 million, a price-to-earnings ratio of 9.13 and a beta of 0.51.

Diversified Energy (NYSE:DEC) last issued its quarterly earnings results on Friday, February 6th. The company reported $2.28 EPS for the quarter. On average, analysts forecast that Diversified Energy will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DEC has been the topic of a number of recent analyst reports. William Blair initiated coverage on Diversified Energy in a report on Tuesday, November 18th. They set an “outperform” rating on the stock. Zacks Research lowered shares of Diversified Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Citigroup cut their price target on shares of Diversified Energy from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, January 21st. Finally, Mizuho upped their target price on shares of Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.50.

Insider Activity

In other news, Director Randall S. Wade sold 2,100,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $13.28, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Diversified Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in Diversified Energy by 9.4% during the fourth quarter. Empowered Funds LLC now owns 355,269 shares of the company’s stock valued at $5,144,000 after buying an additional 30,509 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Diversified Energy by 43.8% in the 4th quarter. XTX Topco Ltd now owns 36,714 shares of the company’s stock valued at $532,000 after acquiring an additional 11,180 shares during the period. Millennium Management LLC lifted its holdings in shares of Diversified Energy by 6.9% during the 4th quarter. Millennium Management LLC now owns 99,786 shares of the company’s stock valued at $1,445,000 after acquiring an additional 6,457 shares in the last quarter. Man Group plc purchased a new stake in Diversified Energy during the 4th quarter worth $27,463,000. Finally, Janus Henderson Group PLC purchased a new stake in Diversified Energy during the 4th quarter worth $188,000. Institutional investors and hedge funds 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.