Diversified Energy Company PLC (NYSE:DEC) Given Consensus Rating of “Buy” by Brokerages

Diversified Energy Company PLC (NYSE:DEC – Get Free Report) has received an average rating of “Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $21.8333.

DEC has been the topic of several recent research reports. Citigroup raised their price objective on shares of Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Truist Financial dropped their price target on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings lowered shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. KeyCorp lifted their price target on shares of Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Finally, Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th.

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Hedge Funds Weigh In On Diversified Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Optiver Holding B.V. bought a new position in Diversified Energy during the first quarter worth $414,000. 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 acquiring an additional 111,625 shares during the period. Janus Henderson Group PLC increased its position in Diversified Energy by 123.1% during the first quarter. Janus Henderson Group PLC now owns 29,000 shares of the company’s stock worth $505,000 after acquiring an additional 16,000 shares during the period. California State Teachers Retirement System increased its position in 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 worth $1,071,000 after acquiring an additional 57,559 shares during the period. Finally, Royal Bank of Canada increased its position in Diversified Energy by 0.5% during the first quarter. Royal Bank of Canada now owns 140,160 shares of the company’s stock worth $2,445,000 after acquiring an additional 748 shares during the period. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Price Performance

Shares of DEC opened at $13.69 on Wednesday. The firm has a market cap of $990.21 million, a PE ratio of 3.89 and a beta of -0.46. The firm’s 50 day moving average price is $15.75 and its 200 day moving average price is $14.71. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.47 and a current ratio of 0.47. Diversified Energy has a twelve month low of $12.33 and a twelve month high of $18.90.

Diversified Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, August 28th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 8.5%. Diversified Energy’s payout ratio is 32.95%.

About Diversified Energy

(Get Free Report)

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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