KeyCorp Issues Positive Forecast for Diversified Energy (NYSE:DEC) Stock Price

Diversified Energy (NYSE:DEC) had its target price raised by equities researchers at KeyCorp from $18.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 19.30% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Zacks Research raised shares of Diversified Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Mizuho raised their target price on Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings upgraded Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, Johnson Rice upgraded shares of Diversified Energy from an “accumulate” rating to a “buy” rating and boosted their target price for the company from $19.00 to $23.00 in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Diversified Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.80.

Diversified Energy Stock Performance

DEC opened at $16.77 on Thursday. The stock’s 50 day simple moving average is $14.33 and its 200-day simple moving average is $14.08. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.73. The stock has a market cap of $1.21 billion, a PE ratio of 11.40 and a beta of 0.46. Diversified Energy has a 1 year low of $10.08 and a 1 year high of $18.90.

Diversified Energy (NYSE:DEC) last posted its quarterly earnings results on Friday, February 6th. The company reported $2.28 earnings per share for the quarter. Sell-side analysts forecast that Diversified Energy will post 0.18 EPS for the current year.

Insider Activity

In other news, Director Randall S. Wade sold 2,100,000 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 7,501,585 shares of the company’s stock, 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.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DEC. Quarry LP boosted its position in Diversified Energy by 1,595.2% in the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after buying an additional 1,994 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Diversified Energy during the fourth quarter valued at $32,000. Ensign Peak Advisors Inc acquired a new position in shares of Diversified Energy during the fourth quarter valued at $35,000. State of Alaska Department of Revenue bought a new position in Diversified Energy in the third quarter valued at about $47,000. Finally, Tower Research Capital LLC TRC increased its position in Diversified Energy by 261.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock worth $74,000 after purchasing an additional 3,666 shares during the period. 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.