Citigroup Lowers Diversified Energy (NYSE:DEC) Price Target to $16.00

Diversified Energy (NYSE:DEC) had its price target cut by stock analysts at Citigroup from $19.00 to $16.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 27.08% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Diversified Energy in a research report on Wednesday, October 8th. Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Mizuho decreased their price objective on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Diversified Energy Stock Performance

Shares of NYSE DEC opened at $12.59 on Monday. Diversified Energy has a one year low of $10.08 and a one year high of $17.70. The business has a 50-day moving average price of $14.65 and a two-hundred day moving average price of $14.09.

Institutional Investors Weigh In On Diversified Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DEC. Artemis Investment Management LLP raised its stake in shares of Diversified Energy by 15.8% during the 1st quarter. Artemis Investment Management LLP now owns 412,027 shares of the company’s stock worth $5,571,000 after purchasing an additional 56,117 shares in the last quarter. Mraz Amerine & Associates Inc. raised its stake in shares of Diversified Energy by 16.6% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 132,341 shares of the company’s stock worth $1,779,000 after purchasing an additional 18,846 shares in the last quarter. Summit X LLC purchased a new stake in shares of Diversified Energy during the 1st quarter worth about $140,000. Bailard Inc. purchased a new stake in shares of Diversified Energy during the 1st quarter worth about $285,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Diversified Energy during the 1st quarter worth about $283,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

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.