Diversified Energy (NYSE:DEC) Sees Large Volume Increase – What’s Next?

Diversified Energy Company PLC (NYSE:DEC) saw unusually-strong trading volume on Thursday . Approximately 1,520,081 shares changed hands during trading, an increase of 438% from the previous session’s volume of 282,635 shares.The stock last traded at $14.51 and had previously closed at $15.01.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DEC shares. KeyCorp boosted their price objective on Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Truist Financial lifted their target price on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 6th.

Diversified Energy Trading Down 2.5 %

The business has a fifty day simple moving average of $16.26 and a 200 day simple moving average of $14.15.

Institutional Investors Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Diversified Energy by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company’s stock worth $46,319,000 after acquiring an additional 468,312 shares during the period. M&G PLC boosted its position in shares of Diversified Energy by 5.1% during the third quarter. M&G PLC now owns 1,803,398 shares of the company’s stock worth $20,523,000 after buying an additional 87,775 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Diversified Energy by 3,058.5% during the third quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock worth $8,101,000 after buying an additional 694,866 shares during the period. State Street Corp boosted its holdings in Diversified Energy by 42.4% in the third quarter. State Street Corp now owns 552,844 shares of the company’s stock valued at $6,291,000 after purchasing an additional 164,728 shares during the period. Finally, Barclays PLC raised its stake in Diversified Energy by 166.9% in the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock valued at $5,876,000 after buying an additional 322,986 shares in the last quarter. Institutional investors and hedge funds 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.