Diversified Energy Company PLC (NYSE:DEC) Stock Has Consensus Price Target of $22.00

Shares of Diversified Energy Company PLC (NYSE:DEC) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.00.

Several analysts recently issued reports on DEC shares. Weiss Ratings upgraded Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Zacks Research upgraded shares of Diversified Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Mizuho cut their price target on Diversified Energy from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Jefferies Financial Group raised shares of Diversified Energy to a “hold” rating in a research report on Friday, July 10th. Finally, Citigroup cut their price target on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st.

Diversified Energy Stock Down 0.6%

Shares of NYSE DEC opened at $12.72 on Friday. The business’s 50 day moving average is $14.28 and its two-hundred day moving average is $14.42. The firm has a market cap of $899.98 million, a price-to-earnings ratio of 3.94 and a beta of -0.32. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.96. Diversified Energy has a 52-week low of $12.35 and a 52-week high of $18.90.

Diversified Energy (NYSE:DEC) last announced its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The business had revenue of $442.30 million for the quarter, compared to the consensus estimate of $492.98 million. Research analysts predict that Diversified Energy will post 2.78 EPS for the current year.

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Friday, February 26th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Friday, February 26th. Diversified Energy’s dividend payout ratio (DPR) is 35.91%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Artemis Investment Management LLP grew its position in Diversified Energy by 8.3% in the 3rd quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company’s stock valued at $82,383,000 after acquiring an additional 470,823 shares in the last quarter. Bank of America Corp DE increased its position in Diversified Energy by 57.8% during the first quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock worth $5,312,000 after purchasing an additional 111,625 shares during the last quarter. First Trust Advisors LP acquired a new position in Diversified Energy in the 1st quarter worth $10,546,000. Walleye Capital LLC boosted its holdings in shares of Diversified Energy by 275.1% in the 1st quarter. Walleye Capital LLC now owns 230,694 shares of the company’s stock valued at $4,023,000 after buying an additional 169,198 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Diversified Energy by 1,504.4% during the first quarter. California State Teachers Retirement System now owns 61,385 shares of the company’s stock valued at $1,071,000 after acquiring an additional 57,559 shares during the period. Institutional investors and hedge funds own 26.51% of the company’s stock.

About Diversified Energy

Diversified Energy Company plc is an independent energy company focused on acquiring, operating and managing mature onshore oil and natural gas assets in the United States. Its portfolio includes producing wells, gathering systems and related infrastructure, with an emphasis on extending the productive life of existing assets through operational improvements and disciplined asset management.

The company’s operations are concentrated in several U.S. regions, including the Appalachian, Central and Rocky Mountain areas.