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

Diversified Energy Company PLC (NYSE:DEC) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $21.50.

Several research firms have weighed in on DEC. Citigroup dropped their target price on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Mizuho cut their target price on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Diversified Energy in a research note on Wednesday, October 8th.

Diversified Energy Stock Performance

Shares of DEC stock opened at $13.27 on Tuesday. Diversified Energy has a fifty-two week low of $10.08 and a fifty-two week high of $17.70. The firm has a market capitalization of $639.88 million, a price-to-earnings ratio of 9.03 and a beta of 0.65. The stock’s 50-day simple moving average is $14.48 and its 200-day simple moving average is $14.16.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Monday, December 1st. Diversified Energy’s dividend payout ratio (DPR) is presently 55.10%.

Hedge Funds Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently bought and sold shares of DEC. CWM LLC raised its position in Diversified Energy by 273.1% during the 2nd quarter. CWM LLC now owns 1,787 shares of the company’s stock worth $26,000 after buying an additional 1,308 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Diversified Energy in the third quarter worth $47,000. Allworth Financial LP raised its holdings in shares of Diversified Energy by 10,143.9% during the second quarter. Allworth Financial LP now owns 4,200 shares of the company’s stock worth $62,000 after purchasing an additional 4,159 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Diversified Energy during the second quarter valued at $73,000. Finally, Tower Research Capital LLC TRC boosted 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 purchasing an additional 3,666 shares during the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

About Diversified Energy

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.