Rathbones Group PLC Has $4.78 Million Stock Position in Diversified Energy Company PLC $DEC

Rathbones Group PLC boosted its stake in Diversified Energy Company PLC (NYSE:DEC) by 19.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 321,650 shares of the company’s stock after acquiring an additional 51,334 shares during the period. Rathbones Group PLC’s holdings in Diversified Energy were worth $4,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC raised its holdings 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 purchasing an additional 1,308 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in shares of Diversified Energy during the second quarter worth $73,000. Federated Hermes Inc. acquired a new stake in shares of Diversified Energy during the first quarter worth $108,000. Purkiss Capital Advisors LLC bought a new position in Diversified Energy during the second quarter worth $148,000. Finally, Summit X LLC acquired a new position in Diversified Energy in the first quarter valued at $140,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

Diversified Energy Price Performance

Shares of DEC opened at $13.89 on Monday. Diversified Energy Company PLC has a one year low of $10.08 and a one year high of $17.70. The company has a market cap of $669.82 million, a PE ratio of 9.45 and a beta of 0.62. The stock has a 50-day moving average of $13.92 and a 200-day moving average of $14.28.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date of this dividend is Friday, February 27th. Diversified Energy’s dividend payout ratio (DPR) is 55.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup decreased their price target on Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a report on Monday, October 20th. Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Mizuho lowered their target price on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Diversified Energy currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.