Diversified Energy (NYSE:DEC) Price Target Raised to $20.00

Diversified Energy (NYSE:DEC) had its price objective increased by KeyCorp from $18.00 to $20.00 in a research report sent to investors on Thursday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on DEC. Wall Street Zen downgraded Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Zacks Research upgraded Diversified Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Mizuho increased their price objective on shares of Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Johnson Rice raised shares of Diversified Energy from an “accumulate” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $23.00 in a research report on Friday, December 5th. Finally, Truist Financial began coverage on shares of Diversified Energy in a research note on Tuesday, March 24th. They issued a “buy” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Diversified Energy presently has an average rating of “Moderate Buy” and an average target price of $21.80.

Diversified Energy Stock Down 0.0%

Shares of Diversified Energy stock opened at $17.09 on Thursday. Diversified Energy has a twelve month low of $10.08 and a twelve month high of $18.90. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 11.63 and a beta of -0.23. 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 company has a fifty day moving average price of $14.49 and a 200 day moving average price of $14.11.

Diversified Energy (NYSE:DEC) last released its quarterly earnings data on Friday, February 6th. The company reported $2.28 EPS for the quarter. Equities research analysts forecast that Diversified Energy will post 0.18 earnings per share for the current fiscal year.

Diversified Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 6.8%. Diversified Energy’s dividend payout ratio is currently 78.91%.

Insiders Place Their Bets

In other Diversified Energy news, Director Randall S. Wade sold 2,100,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $13.28, for a total transaction of $27,888,000.00. Following the completion of the sale, the director owned 7,501,585 shares in the company, valued at $99,621,048.80. This trade represents a 21.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Diversified Energy

A number of institutional investors have recently made changes to their positions in DEC. Quarry LP boosted its stake in shares of Diversified Energy by 1,595.2% during 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 bought a new stake in shares of Diversified Energy in the fourth quarter worth $32,000. Ensign Peak Advisors Inc bought a new stake in shares of Diversified Energy in the fourth quarter worth $35,000. State of Alaska Department of Revenue acquired a new stake in Diversified Energy in the third quarter valued at $47,000. Finally, Tower Research Capital LLC TRC raised its holdings 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 valued at $74,000 after acquiring an additional 3,666 shares in the last quarter. 26.51% of the stock is owned by institutional investors and hedge funds.

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.