Artemis Investment Management LLP Buys New Shares in Diversified Energy Company PLC (NYSE:DEC)

Artemis Investment Management LLP purchased a new position in shares of Diversified Energy Company PLC (NYSE:DEC) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 355,910 shares of the company’s stock, valued at approximately $5,979,000. Artemis Investment Management LLP owned 0.74% of Diversified Energy at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in DEC. M&G PLC increased its holdings in Diversified Energy by 5.1% in the third quarter. M&G PLC now owns 1,803,398 shares of the company’s stock worth $20,523,000 after purchasing an additional 87,775 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Diversified Energy by 3,058.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock valued at $8,101,000 after acquiring an additional 694,866 shares during the period. State Street Corp boosted its stake in Diversified Energy by 42.4% during the third quarter. State Street Corp now owns 552,844 shares of the company’s stock worth $6,291,000 after acquiring an additional 164,728 shares in the last quarter. Barclays PLC grew its holdings in Diversified Energy by 166.9% in the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after purchasing an additional 322,986 shares during the period. Finally, Empowered Funds LLC bought a new stake in Diversified Energy in the third quarter valued at $1,486,000. 26.51% of the stock is owned by institutional investors.

Diversified Energy Stock Down 2.4 %

Shares of NYSE DEC opened at $16.28 on Monday. The firm’s 50-day simple moving average is $15.92 and its 200 day simple moving average is $14.00. Diversified Energy Company PLC has a fifty-two week low of $10.54 and a fifty-two week high of $17.70.

Diversified Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.13%. The ex-dividend date is Friday, February 28th.

Analyst Ratings Changes

DEC has been the subject of a number of research analyst reports. Truist Financial boosted their target price on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 6th. KeyCorp increased their target price on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th.

Diversified Energy Company Profile

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.