Jupiter Asset Management Ltd. Increases Holdings in Diversified Energy Company PLC $DEC

Jupiter Asset Management Ltd. increased its position in Diversified Energy Company PLC (NYSE:DEC) by 1.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,926,886 shares of the company’s stock after buying an additional 34,406 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.06% of Diversified Energy worth $43,478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CWM LLC raised its stake in shares of Diversified Energy by 273.1% during the second quarter. CWM LLC now owns 1,787 shares of the company’s stock worth $26,000 after acquiring an additional 1,308 shares in the last quarter. Allworth Financial LP raised its position in Diversified Energy by 10,143.9% in the 2nd 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 period. Oakworth Capital Inc. purchased a new stake in Diversified Energy during the second quarter valued at about $73,000. Federated Hermes Inc. purchased a new stake in Diversified Energy during the first quarter valued at about $108,000. Finally, Purkiss Capital Advisors LLC bought a new position in shares of Diversified Energy during the second quarter valued at about $148,000. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Trading Up 4.4%

Shares of Diversified Energy stock opened at $14.66 on Wednesday. Diversified Energy Company PLC has a 12-month low of $10.08 and a 12-month high of $17.70. The company has a market cap of $706.91 million, a P/E ratio of 9.97 and a beta of 0.62. The company’s fifty day simple moving average is $13.85 and its two-hundred day simple moving average is $14.31.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, February 27th. This represents a $1.16 annualized dividend and a dividend yield of 7.9%. Diversified Energy’s payout ratio is currently 55.10%.

Analyst Upgrades and Downgrades

DEC has been the topic of several recent research reports. Mizuho reduced their price target 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. Citigroup decreased 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 note on Monday, October 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.