Diversified Energy (NYSE:DEC) Announces Earnings Results

Diversified Energy (NYSE:DEC) released its earnings results on Wednesday. The company reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $3.11, FiscalAI reports. The business had revenue of $442.30 million during the quarter, compared to the consensus estimate of $489.65 million.

Diversified Energy Stock Down 2.4%

DEC stock traded down $0.33 during mid-day trading on Wednesday, reaching $13.07. 785,347 shares of the company traded hands, compared to its average volume of 846,800. The firm’s 50 day moving average price is $13.52 and its 200 day moving average price is $14.43. 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 $945.37 million, a price-to-earnings ratio of 3.71 and a beta of -0.38. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.57.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective 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 began coverage on shares of Diversified Energy in a report on Wednesday, April 15th. They set an “overweight” rating and a $24.00 price target for the company. Truist Financial reduced 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. Weiss Ratings cut shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group upgraded shares of Diversified Energy to a “hold” rating in a report on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.17.

Hedge Funds Weigh In On Diversified Energy

Several institutional investors have recently added to or reduced their stakes in DEC. Quarry LP grew its stake in shares of Diversified Energy by 1,595.2% during the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock worth $30,000 after acquiring an additional 1,994 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Diversified Energy during the 4th quarter worth approximately $32,000. Ensign Peak Advisors Inc purchased a new position in shares of Diversified Energy during the 4th quarter valued at $35,000. Tower Research Capital LLC TRC raised its stake in Diversified Energy by 261.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock valued at $74,000 after purchasing an additional 3,666 shares in the last quarter. Finally, Massar Capital Management LP bought a new stake in shares of Diversified Energy during the 2nd quarter worth $152,000. 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.