Diversified Energy (NYSE:DEC) Stock Gets Price Target Reduction from Mizuho

Diversified Energy (NYSE:DEC) had its price objective lowered by Mizuho from $32.00 to $29.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also commented on the company. Truist Financial boosted their price target on Diversified Energy from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup dropped their price objective on Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Jefferies Financial Group raised Diversified Energy to a “hold” rating in a report on Friday, July 10th. Weiss Ratings upgraded Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Finally, Zacks Research upgraded Diversified Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Diversified Energy Trading Up 0.1%

Shares of DEC stock opened at $14.85 on Friday. The business’s fifty day moving average price is $14.44 and its 200 day moving average price is $14.55. Diversified Energy has a 1-year low of $12.35 and a 1-year high of $18.90. The firm has a market capitalization of $1.05 billion, a PE ratio of 4.60 and a beta of -0.28. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.57 and a quick ratio of 0.57.

Diversified Energy (NYSE:DEC) last released its earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The business had revenue of $442.30 million during the quarter, compared to the consensus estimate of $492.98 million. As a group, sell-side analysts forecast that Diversified Energy will post 2.78 EPS for the current fiscal year.

Diversified Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend is Wednesday, December 2nd. Diversified Energy’s dividend payout ratio (DPR) is 35.91%.

Institutional Investors Weigh In On Diversified Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Artemis Investment Management LLP increased its holdings in shares of Diversified Energy by 8.3% during the 3rd quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company’s stock worth $82,383,000 after buying an additional 470,823 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Diversified Energy by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 617,728 shares of the company’s stock valued at $10,773,000 after acquiring an additional 26,978 shares during the last quarter. First Trust Advisors LP acquired a new position in Diversified Energy in the first quarter valued at $10,546,000. Bank of America Corp DE grew its position in Diversified Energy by 57.8% during the first quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock valued at $5,312,000 after acquiring an additional 111,625 shares during the period. Finally, Walleye Capital LLC grew its position in Diversified Energy by 275.1% during the first quarter. Walleye Capital LLC now owns 230,694 shares of the company’s stock valued at $4,023,000 after acquiring an additional 169,198 shares during the period. Hedge funds and other institutional investors own 26.51% of the company’s stock.

About Diversified Energy

Diversified Energy Company plc is an independent energy company that owns and operates a portfolio of mature, producing oil and natural gas wells in the United States. The company focuses on acquiring long-life conventional assets and managing them through their full operating lifecycle, with activities spanning production, maintenance, infrastructure management and well retirement.

The company’s operations are concentrated in established U.S. onshore producing regions, including the Appalachian, Central and Rockies areas.