Diversified Energy Company PLC (NYSE:DEC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Diversified Energy Company PLC (NYSE:DEC) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $21.20.

A number of analysts recently weighed in on the stock. Mizuho increased their price target on shares of Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Truist Financial started coverage on shares of Diversified Energy in a research note on Tuesday. They issued a “buy” rating and a $22.00 price objective on the stock. Johnson Rice raised shares of Diversified Energy from an “accumulate” rating to a “buy” rating and upped their target price for the company from $19.00 to $23.00 in a report on Friday, December 5th. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Zacks Research lowered Diversified Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th.

Insider Activity

In other news, Director Randall S. Wade sold 2,100,000 shares of the business’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 value of $27,888,000.00. Following the transaction, the director owned 7,501,585 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Diversified Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cooper Creek Partners Management LLC purchased a new stake in shares of Diversified Energy in the second quarter valued at about $9,084,000. Tejara Capital Ltd raised its holdings in Diversified Energy by 1,903.1% during the second quarter. Tejara Capital Ltd now owns 1,905,333 shares of the company’s stock worth $27,951,000 after purchasing an additional 1,810,214 shares in the last quarter. Fortress Investment Group LLC purchased a new position in Diversified Energy during the third quarter worth about $4,977,000. Legal & General Group Plc lifted its position in Diversified Energy by 4.6% in the second quarter. Legal & General Group Plc now owns 897,365 shares of the company’s stock valued at $13,329,000 after purchasing an additional 39,334 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Diversified Energy by 18.2% in the 2nd quarter. Geode Capital Management LLC now owns 678,409 shares of the company’s stock valued at $9,952,000 after purchasing an additional 104,294 shares in the last quarter. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Diversified Energy Trading Up 2.1%

DEC opened at $17.74 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.73. Diversified Energy has a 52 week low of $10.08 and a 52 week high of $17.87. The business’s 50 day moving average is $13.92 and its two-hundred day moving average is $14.03. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 12.07 and a beta of 0.46.

Diversified Energy (NYSE:DEC) last posted its quarterly earnings data on Friday, February 6th. The company reported $2.28 earnings per share for the quarter. On average, research analysts predict that Diversified Energy will post 0.18 EPS for the current year.

Diversified Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Friday, May 29th. Diversified Energy’s dividend payout ratio (DPR) is presently 78.91%.

About Diversified Energy

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.