Diversified Energy (NYSE:DEC) Price Target Raised to $20.00 at Truist Financial

Diversified Energy (NYSE:DEC) had its price target boosted by stock analysts at Truist Financial from $17.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 38.31% from the company’s previous close.

Other analysts have also recently issued reports about the company. Mizuho set a $32.00 price target on Diversified Energy in a research report on Monday. Zacks Research lowered Diversified Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Stephens initiated coverage on Diversified Energy in a research note on Wednesday, April 15th. They set an “overweight” rating and a $24.00 price objective for the company. Jefferies Financial Group raised Diversified Energy to a “hold” rating in a research note on Friday, July 10th. Finally, Citigroup reduced their price target on Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Diversified Energy presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Diversified Energy Stock Down 1.3%

Shares of DEC stock traded down $0.19 during mid-day trading on Wednesday, reaching $14.46. 177,615 shares of the company’s stock traded hands, compared to its average volume of 955,101. Diversified Energy has a 12 month low of $12.33 and a 12 month high of $18.90. The company has a market cap of $1.02 billion, a P/E ratio of 4.48 and a beta of -0.38. The company’s 50-day moving average price is $13.47 and its 200-day moving average price is $14.47. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.96.

Diversified Energy (NYSE:DEC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The business had revenue of $442.30 million for the quarter, compared to analyst estimates of $492.98 million. On average, equities analysts expect that Diversified Energy will post 3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP boosted its position in shares of Diversified Energy by 1,595.2% during the third quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after buying an additional 1,994 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Diversified Energy during the 4th quarter valued at about $32,000. Ensign Peak Advisors Inc purchased a new stake in shares of Diversified Energy during the 4th quarter valued at about $35,000. Versant Capital Management Inc boosted its holdings in shares of Diversified Energy by 197.0% during the 2nd quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock valued at $68,000 after acquiring an additional 3,256 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Diversified Energy by 261.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock worth $74,000 after acquiring an additional 3,666 shares during the period. 26.51% of the stock is 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.