Brokerages Set Diversified Energy Company PLC (NYSE:DEC) PT at $21.00

Diversified Energy Company PLC (NYSE:DEC) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $21.00.

A number of equities research analysts have recently commented on the company. William Blair began coverage on Diversified Energy in a research report on Tuesday, November 18th. They set an “outperform” rating on the stock. Johnson Rice upgraded Diversified Energy from an “accumulate” rating to a “buy” rating and increased their price target for the stock from $19.00 to $23.00 in a research report on Friday, December 5th. Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a research note on Wednesday, October 8th. Finally, Mizuho increased their target price on Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, December 12th.

Diversified Energy Stock Up 1.0%

DEC opened at $12.91 on Friday. The company has a fifty day moving average of $14.46 and a two-hundred day moving average of $14.47. Diversified Energy has a fifty-two week low of $10.08 and a fifty-two week high of $17.24.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend is Friday, February 27th. Diversified Energy’s dividend payout ratio (DPR) is presently 78.91%.

Insider Activity

In other news, Director Randall S. Wade sold 2,100,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were 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 of the company’s stock, valued at $99,621,048.80. The trade was 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 at this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its stake in Diversified Energy by 273.1% during the 2nd quarter. CWM LLC now owns 1,787 shares of the company’s stock worth $26,000 after buying an additional 1,308 shares in the last quarter. Quarry LP lifted its position in shares of Diversified Energy by 1,595.2% in the third quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after acquiring an additional 1,994 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Diversified Energy in the third quarter worth approximately $47,000. Allworth Financial LP increased its position in shares of Diversified Energy by 10,143.9% during the second quarter. Allworth Financial LP now owns 4,200 shares of the company’s stock worth $62,000 after purchasing an additional 4,159 shares in the last quarter. Finally, Oakworth Capital Inc. purchased a new stake in shares of Diversified Energy during the second quarter worth approximately $73,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

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.