Tejara Capital Ltd Takes Position in Diversified Energy Company PLC (NYSE:DEC)

Tejara Capital Ltd bought a new stake in Diversified Energy Company PLC (NYSE:DEC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 95,119 shares of the company’s stock, valued at approximately $1,286,000. Tejara Capital Ltd owned 0.20% of Diversified Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DEC. Jupiter Asset Management Ltd. increased its position in Diversified Energy by 5.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,892,480 shares of the company’s stock valued at $38,940,000 after buying an additional 141,691 shares in the last quarter. Vanguard Group Inc. increased its position in Diversified Energy by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,850,221 shares of the company’s stock valued at $38,663,000 after buying an additional 82,113 shares in the last quarter. Artemis Investment Management LLP increased its holdings in shares of Diversified Energy by 15.8% in the 1st quarter. Artemis Investment Management LLP now owns 412,027 shares of the company’s stock worth $5,571,000 after purchasing an additional 56,117 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Diversified Energy by 112.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company’s stock worth $6,463,000 after purchasing an additional 203,700 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Diversified Energy in the fourth quarter worth $6,274,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Trading Down 0.6%

NYSE:DEC opened at $15.17 on Friday. The stock has a 50-day simple moving average of $14.74 and a two-hundred day simple moving average of $13.93. Diversified Energy Company PLC has a 52-week low of $10.08 and a 52-week high of $17.70. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.54 and a quick ratio of 0.40.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Monday, December 1st.

Analyst Ratings Changes

DEC has been the subject of several recent analyst reports. Wall Street Zen upgraded Diversified Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Citigroup initiated coverage on Diversified Energy in a report on Tuesday, April 29th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, KeyCorp cut their price objective on Diversified Energy from $21.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

About Diversified Energy

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.