Diversified Energy (NYSE:DEC – Get Free Report) had its price target reduced by research analysts at Mizuho from $32.00 to $29.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 101.04% from the company’s previous close.
A number of other research firms have also issued reports on DEC. Citigroup reduced their price target on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings upgraded shares of Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Jefferies Financial Group raised shares of Diversified Energy to a “hold” rating in a report on Friday, July 10th. Truist Financial increased their price objective on shares of Diversified Energy from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Zacks Research upgraded shares of Diversified Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Diversified Energy presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.
Get Our Latest Analysis on Diversified Energy
Diversified Energy Price Performance
Shares of DEC stock opened at $14.43 on Friday. The stock’s 50-day simple moving average is $14.42 and its 200-day simple moving average is $14.57. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.57 and a quick ratio of 0.57. Diversified Energy has a fifty-two week low of $12.33 and a fifty-two week high of $18.90.
Diversified Energy (NYSE:DEC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.49). The firm had revenue of $442.30 million during the quarter, compared to analysts’ expectations of $492.98 million. On average, analysts forecast that Diversified Energy will post 2.78 EPS for the current year.
Hedge Funds Weigh In On Diversified Energy
Institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in Diversified Energy during the third quarter worth $37,000. GAMMA Investing LLC increased its holdings in Diversified Energy by 443.1% in the third quarter. GAMMA Investing LLC now owns 1,917 shares of the company’s stock valued at $26,000 after buying an additional 1,564 shares in the last quarter. Artemis Investment Management LLP increased its holdings in Diversified Energy by 8.3% in the third quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company’s stock valued at $82,383,000 after buying an additional 470,823 shares in the last quarter. Tidal Investments LLC purchased a new position in Diversified Energy in the second quarter valued at $988,000. Finally, Arizona State Retirement System raised its position in shares of Diversified Energy by 6.9% in the second quarter. Arizona State Retirement System now owns 19,483 shares of the company’s stock worth $270,000 after acquiring an additional 1,261 shares during the period. 26.51% of the stock is owned by hedge funds and other 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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