Stephens Initiates Coverage on Diversified Energy (NYSE:DEC)

Analysts at Stephens began coverage on shares of Diversified Energy (NYSE:DEC) in a report released on Wednesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $24.00 price target on the stock. Stephens’ target price indicates a potential upside of 60.43% from the stock’s previous close.

A number of other brokerages have also issued reports on DEC. KeyCorp increased their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Zacks Research raised shares of Diversified Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Truist Financial cut their target price on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Citigroup raised their target price on shares of Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Finally, Wall Street Zen lowered shares of Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.83.

Diversified Energy Trading Down 5.1%

Shares of DEC opened at $14.96 on Wednesday. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.60 and a quick ratio of 0.60. Diversified Energy has a 1 year low of $11.21 and a 1 year high of $18.90. The company has a 50 day simple moving average of $15.08 and a two-hundred day simple moving average of $14.24. The firm has a market cap of $1.08 billion, a P/E ratio of 10.26 and a beta of -0.23.

Diversified Energy (NYSE:DEC) last announced its quarterly earnings data on Friday, February 6th. The company reported $2.28 earnings per share (EPS) for the quarter. On average, equities analysts expect that Diversified Energy will post 0.18 earnings per share for the current fiscal year.

Institutional Trading of Diversified Energy

A number of institutional investors have recently bought and sold shares of the stock. Aberdeen Group plc bought a new stake in shares of Diversified Energy during the fourth quarter worth $13,901,000. Tudor Investment Corp ET AL lifted its position in shares of Diversified Energy by 30.5% during the third quarter. Tudor Investment Corp ET AL now owns 257,955 shares of the company’s stock worth $3,614,000 after purchasing an additional 60,283 shares during the last quarter. Fortress Investment Group LLC bought a new stake in shares of Diversified Energy during the third quarter worth $4,977,000. Penn Capital Management Company LLC lifted its position in shares of Diversified Energy by 107.2% during the third quarter. Penn Capital Management Company LLC now owns 91,912 shares of the company’s stock worth $1,288,000 after purchasing an additional 47,552 shares during the last quarter. Finally, M&G PLC lifted its position in shares of Diversified Energy by 11.7% during the third quarter. M&G PLC now owns 1,915,325 shares of the company’s stock worth $26,765,000 after purchasing an additional 200,000 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Company Profile

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.