Truist Financial Initiates Coverage on Diversified Energy (NYSE:DEC)

Equities researchers at Truist Financial initiated coverage on shares of Diversified Energy (NYSE:DEC) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Truist Financial’s target price points to a potential upside of 37.09% from the company’s previous close.

Diversified Energy Trading Down 2.2 %

DEC opened at $13.13 on Tuesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.48 and a quick ratio of 0.48. Diversified Energy has a 12-month low of $10.54 and a 12-month high of $26.00. The business has a 50-day moving average price of $14.12.

Hedge Funds Weigh In On Diversified Energy

A number of large investors have recently added to or reduced their stakes in DEC. Royal London Asset Management Ltd. purchased a new position in shares of Diversified Energy in the fourth quarter worth about $25,000. Fund 1 Investments LLC purchased a new position in Diversified Energy in the 4th quarter worth approximately $56,000. Susquehanna International Securities Ltd. bought a new stake in Diversified Energy in the first quarter valued at approximately $131,000. Virtu Financial LLC purchased a new stake in shares of Diversified Energy during the first quarter valued at approximately $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Diversified Energy in the fourth quarter worth approximately $190,000. Hedge funds and other 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.