Diversified Energy (NYSE:DEC) Stock Price Up 3.9% – What’s Next?

Diversified Energy Company PLC (NYSE:DEC)’s share price traded up 3.9% during mid-day trading on Thursday . The stock traded as high as $13.83 and last traded at $13.80. 303,598 shares traded hands during trading, a decline of 37% from the average session volume of 479,124 shares. The stock had previously closed at $13.28.

Analyst Upgrades and Downgrades

DEC has been the subject of a number of research analyst reports. KeyCorp boosted their price objective on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Truist Financial raised their target price on shares of 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 Stock Performance

The stock has a 50 day moving average price of $14.93 and a 200 day moving average price of $14.07.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 8.45%.

Hedge Funds Weigh In On Diversified Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in DEC. The Manufacturers Life Insurance Company raised its position in Diversified Energy by 3,058.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock worth $8,101,000 after purchasing an additional 694,866 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Diversified Energy by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company’s stock valued at $46,319,000 after buying an additional 468,312 shares during the period. Woodline Partners LP bought a new position in shares of Diversified Energy during the fourth quarter worth about $6,274,000. Artemis Investment Management LLP acquired a new position in shares of Diversified Energy in the fourth quarter worth approximately $5,979,000. Finally, Barclays PLC increased its position in Diversified Energy by 166.9% during the 3rd quarter. Barclays PLC now owns 516,535 shares of the company’s stock valued at $5,876,000 after purchasing an additional 322,986 shares during the period. 26.51% of the stock is currently owned by institutional investors and hedge funds.

Diversified Energy Company Profile

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.