Diversified Energy Company PLC (NYSE:DEC) Receives Average Rating of “Moderate Buy” from Brokerages

Diversified Energy Company PLC (NYSE:DEC) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $22.50.

A number of equities research analysts have recently issued reports on DEC shares. Zacks Research downgraded shares of Diversified Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Citigroup decreased their target price on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Mizuho set a $32.00 price target on shares of Diversified Energy in a report on Monday, August 10th. Finally, Truist Financial raised their price target on shares of Diversified Energy from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, August 12th.

Diversified Energy Price Performance

Shares of NYSE DEC opened at $14.75 on Monday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.57 and a current ratio of 0.57. Diversified Energy has a fifty-two week low of $12.33 and a fifty-two week high of $18.90. The stock has a market cap of $1.04 billion, a PE ratio of 4.57 and a beta of -0.38. The stock has a fifty day moving average of $13.73 and a 200-day moving average of $14.61.

Diversified Energy (NYSE:DEC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The company had revenue of $442.30 million during the quarter, compared to analyst estimates of $492.98 million. Equities research analysts anticipate that Diversified Energy will post 2.7 earnings per share for the current year.

Diversified Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 2nd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Wednesday, December 2nd. Diversified Energy’s dividend payout ratio (DPR) is 35.91%.

Hedge Funds Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEC. Public Employees Retirement System of Ohio purchased a new stake in shares of Diversified Energy in the 2nd quarter valued at about $26,000. Quarry LP grew its holdings 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 worth $30,000 after purchasing an additional 1,994 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Diversified Energy during the fourth quarter worth about $32,000. Ensign Peak Advisors Inc bought a new position in shares of Diversified Energy in the fourth quarter worth approximately $35,000. Finally, Versant Capital Management Inc increased its position in shares of Diversified Energy by 197.0% in the second quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock worth $68,000 after purchasing an additional 3,256 shares during the last quarter. 26.51% of the stock is currently owned by hedge funds and other 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.