Diversified Energy (NYSE:DEC) Shares Gap Up – Here’s What Happened

Diversified Energy Company PLC (NYSE:DEC)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $14.80, but opened at $15.50. Diversified Energy shares last traded at $15.0390, with a volume of 84,399 shares.

Analyst Upgrades and Downgrades

DEC has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, October 8th. William Blair assumed coverage on shares of Diversified Energy in a research note on Tuesday, November 18th. They set an “outperform” rating on the stock. Mizuho lowered their price objective on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Wall Street Zen cut shares of Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Citigroup upped their target price on shares of Diversified Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

Diversified Energy Stock Up 0.6%

The company’s 50 day moving average price is $13.76 and its two-hundred day moving average price is $14.44. The firm has a market cap of $717.81 million, a PE ratio of 10.13 and a beta of 0.62.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Friday, February 27th. Diversified Energy’s dividend payout ratio is 55.10%.

Institutional Investors Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Penn Capital Management Company LLC lifted its stake in shares of Diversified Energy by 107.2% during the 3rd quarter. Penn Capital Management Company LLC now owns 91,912 shares of the company’s stock worth $1,288,000 after acquiring an additional 47,552 shares during the last quarter. Maven Securities LTD purchased a new stake in Diversified Energy in the third quarter worth $490,000. Woodline Partners LP bought a new stake in shares of Diversified Energy during the third quarter worth $1,051,000. PharVision Advisers LLC purchased a new stake in shares of Diversified Energy during the third quarter valued at $185,000. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Diversified Energy by 211.3% during the third quarter. Alyeska Investment Group L.P. now owns 550,000 shares of the company’s stock valued at $7,706,000 after purchasing an additional 373,296 shares during the period. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Diversified Energy Company Profile

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.