Brokerages Set Diversified Energy Company PLC (NYSE:DEC) Price Target at $21.17

Shares of Diversified Energy Company PLC (NYSE:DEC) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $21.1667.

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Diversified Energy in a research note on Tuesday. Jefferies Financial Group upgraded shares of Diversified Energy to a “hold” rating in a report on Friday, July 10th. Citigroup reduced their target price on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Stephens started coverage on shares of Diversified Energy in a research note on Wednesday, April 15th. They set an “overweight” rating and a $24.00 price target for the company. Finally, Truist Financial dropped their price objective on Diversified Energy from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd.

Diversified Energy Price Performance

NYSE:DEC opened at $13.07 on Thursday. The firm has a market capitalization of $945.41 million, a price-to-earnings ratio of 3.71 and a beta of -0.38. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50 day simple moving average of $13.52 and a 200-day simple moving average of $14.43. Diversified Energy has a 1 year low of $12.33 and a 1 year high of $18.90.

Diversified Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 2nd will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 8.9%. Diversified Energy’s dividend payout ratio is currently 32.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Redhawk Wealth Advisors Inc. purchased a new stake in Diversified Energy in the second quarter valued at about $259,000. Versant Capital Management Inc grew its stake in shares of Diversified Energy by 197.0% during the second quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock worth $68,000 after acquiring an additional 3,256 shares during the last quarter. Southern Financial Group LLC acquired a new position in shares of Diversified Energy during the first quarter valued at about $212,000. Optiver Holding B.V. acquired a new position in shares of Diversified Energy during the first quarter valued at about $414,000. Finally, Bank of America Corp DE raised its position in shares of Diversified Energy by 57.8% in the 1st quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock valued at $5,312,000 after purchasing an additional 111,625 shares during the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

About Diversified Energy

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.