Diversified Energy (NYSE:DEC) Shares Gap Up to $12.80

Diversified Energy Company PLC (NYSE:DEC)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $12.80, but opened at $13.18. Diversified Energy shares last traded at $13.18, with a volume of 20,793 shares trading hands.

Wall Street Analyst Weigh In

Separately, Truist Financial raised their price objective on Diversified Energy from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, July 22nd.

Diversified Energy Stock Performance

The business has a fifty day simple moving average of $14.54 and a two-hundred day simple moving average of $13.59. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.83.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.16 annualized dividend and a dividend yield of 8.82%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Royal London Asset Management Ltd. purchased a new position in shares of Diversified Energy during the 4th quarter worth $25,000. Mraz Amerine & Associates Inc. raised its holdings in Diversified Energy by 1.9% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 108,279 shares of the company’s stock valued at $1,461,000 after buying an additional 2,044 shares during the period. Fund 1 Investments LLC purchased a new stake in Diversified Energy in the 4th quarter valued at about $56,000. Brighton Jones LLC raised its holdings in Diversified Energy by 28.2% in the 2nd quarter. Brighton Jones LLC now owns 25,034 shares of the company’s stock valued at $338,000 after buying an additional 5,501 shares during the period. Finally, Susquehanna International Securities Ltd. acquired a new position in Diversified Energy in the 1st quarter valued at about $131,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

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.