Diversified Energy Company PLC $DEC Shares Acquired by Legal & General Group Plc

Legal & General Group Plc increased its position in shares of Diversified Energy Company PLC (NYSE:DEC) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 897,365 shares of the company’s stock after purchasing an additional 39,334 shares during the quarter. Legal & General Group Plc’s holdings in Diversified Energy were worth $13,329,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of DEC. Jupiter Asset Management Ltd. raised its position in Diversified Energy by 1.2% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,926,886 shares of the company’s stock worth $43,478,000 after buying an additional 34,406 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Diversified Energy by 3.0% in the first quarter. Vanguard Group Inc. now owns 2,850,221 shares of the company’s stock worth $38,663,000 after acquiring an additional 82,113 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Diversified Energy by 177.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock worth $16,060,000 after purchasing an additional 760,428 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Diversified Energy by 82.2% during the first quarter. Woodline Partners LP now owns 680,580 shares of the company’s stock worth $9,201,000 after purchasing an additional 307,133 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Diversified Energy by 18.2% during the second quarter. Geode Capital Management LLC now owns 678,409 shares of the company’s stock valued at $9,952,000 after purchasing an additional 104,294 shares during the period. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on DEC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a research report on Wednesday, October 8th. William Blair started coverage on Diversified Energy in a report on Tuesday, November 18th. They set an “outperform” rating on the stock. Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Citigroup upped their price objective on Diversified Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Mizuho cut their target price on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Diversified Energy Trading Up 2.0%

NYSE DEC opened at $15.04 on Friday. The stock has a market capitalization of $725.23 million, a price-to-earnings ratio of 10.23 and a beta of 0.62. The stock has a 50-day moving average of $13.80 and a 200 day moving average of $14.47. Diversified Energy Company PLC has a twelve month low of $10.08 and a twelve month high of $17.70.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.7%. Diversified Energy’s dividend payout ratio (DPR) is 55.10%.

Diversified Energy 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.