Diversified Energy (NYSE:DEC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Diversified Energy (NYSE:DEC) from a hold rating to a buy rating in a research report report published on Friday morning.

Other equities research analysts have also issued research reports about the company. Mizuho lowered their price objective on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Citigroup raised their price objective on Diversified Energy from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.25.

Diversified Energy Trading Down 1.4%

Shares of NYSE DEC opened at $14.29 on Friday. Diversified Energy has a 1-year low of $10.08 and a 1-year high of $17.70. The business has a 50-day moving average of $15.19 and a 200-day moving average of $14.05. The company has a quick ratio of 0.40, a current ratio of 0.54 and a debt-to-equity ratio of 3.47.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be given a $0.29 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.16 annualized dividend and a dividend yield of 8.1%.

Institutional Trading of Diversified Energy

Several hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. bought a new stake in shares of Diversified Energy in the 2nd quarter worth approximately $53,894,000. Jupiter Asset Management Ltd. lifted its holdings in shares of Diversified Energy by 1.2% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,926,886 shares of the company’s stock worth $43,478,000 after purchasing an additional 34,406 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Diversified Energy by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,850,221 shares of the company’s stock worth $38,663,000 after purchasing an additional 82,113 shares during the last quarter. Tejara Capital Ltd lifted its holdings in shares of Diversified Energy by 1,903.1% in the 2nd quarter. Tejara Capital Ltd now owns 1,905,333 shares of the company’s stock worth $27,951,000 after purchasing an additional 1,810,214 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Diversified Energy by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock worth $16,060,000 after purchasing an additional 760,428 shares during the last quarter. Institutional investors own 26.51% of the company’s stock.

About Diversified Energy

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.