Legal & General Group Plc reduced its stake in Diversified Energy Company PLC (NYSE:DEC – Free Report) by 67.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 302,993 shares of the company’s stock after selling 617,769 shares during the period. Legal & General Group Plc’s holdings in Diversified Energy were worth $4,381,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its holdings in shares of Diversified Energy by 8.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 11,500 shares of the company’s stock worth $161,000 after buying an additional 863 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Diversified Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock worth $377,000 after buying an additional 1,170 shares during the last quarter. Callan Family Office LLC boosted its holdings in shares of Diversified Energy by 7.7% in the 3rd quarter. Callan Family Office LLC now owns 16,840 shares of the company’s stock worth $236,000 after buying an additional 1,201 shares during the last quarter. Quarry LP boosted its holdings in shares of Diversified Energy by 1,595.2% in the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock worth $30,000 after buying an additional 1,994 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Diversified Energy by 4.1% in the 1st quarter. Amundi now owns 50,406 shares of the company’s stock worth $654,000 after buying an additional 1,995 shares during the last quarter. 26.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on DEC. Zacks Research raised shares of Diversified Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 25th. Weiss Ratings downgraded shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Citigroup upped their price objective on shares of Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Finally, Stephens assumed coverage on shares of Diversified Energy in a report on Wednesday, April 15th. They set an “overweight” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $21.83.
Diversified Energy Trading Up 0.5%
Shares of Diversified Energy stock opened at $13.89 on Tuesday. Diversified Energy Company PLC has a 12-month low of $12.33 and a 12-month high of $18.90. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 3.94 and a beta of -0.45. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.57. The company’s 50-day moving average price is $15.83 and its 200-day moving average price is $14.72.
Diversified Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, August 28th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend is Friday, August 28th. Diversified Energy’s dividend payout ratio is presently 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.
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