Diversified Energy Company PLC (NYSE:DEC) Receives Average Recommendation of “Buy” from Brokerages

Diversified Energy Company PLC (NYSE:DEC) has been assigned an average recommendation of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $21.8333.

A number of brokerages have commented on DEC. Zacks Research upgraded shares of Diversified Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. Stephens initiated coverage on shares of Diversified Energy in a research note on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price objective for the company. Weiss Ratings lowered shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. KeyCorp lifted their target price on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Finally, Truist Financial lowered their price target on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, April 9th.

Hedge Funds Weigh In On Diversified Energy

Several institutional investors and hedge funds have recently bought and sold shares of DEC. Royal Bank of Canada boosted its stake in shares of Diversified Energy by 168.8% during the first quarter. Royal Bank of Canada now owns 26,366 shares of the company’s stock valued at $356,000 after purchasing an additional 16,556 shares during the period. Amundi increased its stake in shares of Diversified Energy by 4.1% in the first quarter. Amundi now owns 50,406 shares of the company’s stock worth $654,000 after buying an additional 1,995 shares during the period. AQR Capital Management LLC purchased a new stake in Diversified Energy during the 1st quarter valued at $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Diversified Energy by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock valued at $377,000 after buying an additional 1,170 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Diversified Energy by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock worth $16,060,000 after acquiring an additional 760,428 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Stock Performance

Shares of NYSE DEC opened at $14.30 on Friday. The stock’s 50-day moving average is $14.67 and its 200 day moving average is $14.52. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 4.06 and a beta of -0.40. Diversified Energy has a 1-year low of $12.33 and a 1-year high of $18.90. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.57.

Diversified Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, August 28th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Friday, August 28th. Diversified Energy’s payout ratio is 32.95%.

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.