Rathbones Group PLC Sells 105,719 Shares of Diversified Energy Company PLC (NYSE:DEC)

Rathbones Group PLC reduced its stake in Diversified Energy Company PLC (NYSE:DEC) by 26.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,163 shares of the company’s stock after selling 105,719 shares during the period. Rathbones Group PLC’s holdings in Diversified Energy were worth $5,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DEC. Invesco Ltd. lifted its stake in shares of Diversified Energy by 1.7% in the 4th quarter. Invesco Ltd. now owns 39,195 shares of the company’s stock valued at $658,000 after purchasing an additional 638 shares during the period. Wells Fargo & Company MN lifted its position in Diversified Energy by 4.1% during the fourth quarter. Wells Fargo & Company MN now owns 27,287 shares of the company’s stock valued at $458,000 after buying an additional 1,085 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Diversified Energy by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock valued at $1,291,000 after buying an additional 1,910 shares in the last quarter. FMR LLC purchased a new stake in shares of Diversified Energy in the 3rd quarter worth about $31,000. Finally, SG Americas Securities LLC increased its stake in shares of Diversified Energy by 21.1% in the 4th quarter. SG Americas Securities LLC now owns 18,687 shares of the company’s stock worth $314,000 after acquiring an additional 3,255 shares in the last quarter. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Diversified Energy Stock Performance

Diversified Energy stock opened at $11.29 on Tuesday. The business has a 50-day simple moving average of $14.10 and a two-hundred day simple moving average of $14.25. Diversified Energy Company PLC has a 52-week low of $10.72 and a 52-week high of $17.70.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 10.28%. The ex-dividend date of this dividend is Friday, May 30th.

Analyst Ratings Changes

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

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.