Diversified Energy (NYSE:DEC – Get Free Report) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.
A number of other research firms have also recently commented on DEC. Weiss Ratings raised shares of Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Citigroup lowered their price objective on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Mizuho set a $32.00 price objective on shares of Diversified Energy in a research report on Monday, August 10th. Jefferies Financial Group raised shares of Diversified Energy to a “hold” rating in a report on Friday, July 10th. Finally, Truist Financial upped their target price on shares of Diversified Energy from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.50.
Read Our Latest Research Report on Diversified Energy
Diversified Energy Stock Performance
Diversified Energy (NYSE:DEC – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The company had revenue of $442.30 million for the quarter, compared to analyst estimates of $492.98 million. As a group, sell-side analysts expect that Diversified Energy will post 2.82 EPS for the current fiscal year.
Institutional Investors Weigh In On Diversified Energy
A number of hedge funds have recently made changes to their positions in DEC. Artemis Investment Management LLP grew its holdings in shares of Diversified Energy by 8.3% during the 3rd quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company’s stock valued at $82,383,000 after purchasing an additional 470,823 shares during the last quarter. Bank of New York Mellon Corp raised its position in Diversified Energy by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 617,728 shares of the company’s stock worth $10,773,000 after purchasing an additional 26,978 shares during the period. First Trust Advisors LP purchased a new position in Diversified Energy in the 1st quarter worth $10,546,000. Bank of America Corp DE raised its position in Diversified Energy by 57.8% in the 1st quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock worth $5,312,000 after purchasing an additional 111,625 shares during the period. Finally, Walleye Capital LLC lifted its stake in Diversified Energy by 275.1% in the first quarter. Walleye Capital LLC now owns 230,694 shares of the company’s stock worth $4,023,000 after purchasing an additional 169,198 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors.
About Diversified Energy
Diversified Energy Company plc is an independent energy company that owns and operates a portfolio of mature, producing oil and natural gas wells in the United States. The company focuses on acquiring long-life conventional assets and managing them through their full operating lifecycle, with activities spanning production, maintenance, infrastructure management and well retirement.
The company’s operations are concentrated in established U.S. onshore producing regions, including the Appalachian, Central and Rockies areas.
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