Diversified Energy (NYSE:DEC) Raised to Strong-Buy at Zacks Research

Diversified Energy (NYSE:DEC) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on DEC. Stephens began coverage on shares of Diversified Energy in a report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price target on the stock. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Truist Financial cut their price target on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. KeyCorp raised their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, Citigroup raised their price objective on shares of Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $21.83.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $15.10 on Monday. Diversified Energy has a twelve month low of $12.33 and a twelve month high of $18.90. The company’s 50 day moving average is $16.13 and its 200 day moving average is $14.74. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.57. The company has a market cap of $1.09 billion, a PE ratio of 10.27 and a beta of -0.34.

Institutional Investors Weigh In On Diversified Energy

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its holdings in Diversified Energy by 1,595.2% in the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after purchasing an additional 1,994 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Diversified Energy in the 4th quarter valued at $32,000. Ensign Peak Advisors Inc purchased a new position in Diversified Energy in the 4th quarter valued at $35,000. Tower Research Capital LLC TRC lifted its holdings in Diversified Energy by 261.3% in the 2nd 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, Guinness Asset Management LTD purchased a new position in Diversified Energy in the 3rd quarter valued at $106,000. Institutional investors and hedge funds 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.