Diversified Energy (NYSE:DEC) Lowered to Strong Sell Rating by Zacks Research

Diversified Energy (NYSE:DEC) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Citigroup lifted their target price on Diversified Energy from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Mizuho raised their price objective on shares of Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Johnson Rice upgraded shares of Diversified Energy from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $19.00 to $23.00 in a research note on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Diversified Energy has a consensus rating of “Hold” and a consensus price target of $21.00.

Diversified Energy Stock Performance

Shares of Diversified Energy stock opened at $12.53 on Monday. Diversified Energy has a 52-week low of $10.08 and a 52-week high of $17.24. The stock’s 50-day simple moving average is $14.32 and its 200 day simple moving average is $14.40.

Insider Buying and Selling

In other Diversified Energy news, Director Randall S. Wade sold 2,100,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $13.28, for a total value of $27,888,000.00. Following the transaction, the director owned 7,501,585 shares in the company, valued at approximately $99,621,048.80. The trade was a 21.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Diversified Energy

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC boosted its stake in Diversified Energy by 6.9% during the 2nd quarter. Empowered Funds LLC now owns 287,236 shares of the company’s stock valued at $4,214,000 after purchasing an additional 18,572 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new position in shares of Diversified Energy in the second quarter worth $9,084,000. Rathbones Group PLC lifted its holdings in shares of Diversified Energy by 19.0% during the second quarter. Rathbones Group PLC now owns 321,650 shares of the company’s stock valued at $4,777,000 after purchasing an additional 51,334 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Diversified Energy by 1.2% during the second quarter. Jupiter Asset Management Ltd. now owns 2,926,886 shares of the company’s stock valued at $43,478,000 after buying an additional 34,406 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Diversified Energy in the 2nd quarter worth about $323,000. Institutional investors own 26.51% of the company’s stock.

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.