M&G Plc Takes $20.64 Million Position in Diversified Energy Company PLC (NYSE:DEC)

M&G Plc bought a new position in shares of Diversified Energy Company PLC (NYSE:DEC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,715,623 shares of the company’s stock, valued at approximately $20,639,000. M&G Plc owned about 3.56% of Diversified Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&G Investment Management Ltd. purchased a new stake in Diversified Energy in the 4th quarter worth approximately $36,507,000. Allianz Asset Management GmbH acquired a new position in shares of Diversified Energy in the 4th quarter valued at $16,390,000. UBS Group AG purchased a new stake in Diversified Energy during the fourth quarter worth $15,871,000. Rathbones Group PLC acquired a new stake in Diversified Energy during the fourth quarter valued at $11,603,000. Finally, Swiss National Bank purchased a new position in Diversified Energy in the fourth quarter valued at $1,354,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Truist Financial started coverage on shares of Diversified Energy in a research note on Tuesday, June 25th. They set a “buy” rating and a $18.00 target price on the stock.

Diversified Energy Stock Performance

Shares of Diversified Energy stock traded down $0.38 on Friday, reaching $16.40. The company’s stock had a trading volume of 251,612 shares, compared to its average volume of 645,730. Diversified Energy Company PLC has a 52-week low of $10.54 and a 52-week high of $26.00. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.83. The stock has a 50-day moving average price of $14.44 and a 200-day moving average price of $13.40.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date of this dividend is Friday, August 30th.

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.