Diversified Energy (NYSE:DEC) Trading Up 4.8% – Still a Buy?

Diversified Energy Company PLC (NYSE:DEC) shot up 4.8% during mid-day trading on Thursday . The company traded as high as $14.05 and last traded at $14.01. 258,654 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 263,960 shares. The stock had previously closed at $13.37.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. KeyCorp initiated coverage on shares of Diversified Energy in a research note on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 price objective for the company. Truist Financial reduced their price objective on Diversified Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, September 30th.

Diversified Energy Trading Up 1.4 %

The firm’s 50-day moving average price is $11.90 and its two-hundred day moving average price is $13.34.

Diversified Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. M&G Plc acquired a new stake in shares of Diversified Energy during the first quarter worth approximately $20,639,000. Jupiter Asset Management Ltd. lifted its stake in shares of Diversified Energy by 838.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,484,083 shares of the company’s stock valued at $17,773,000 after purchasing an additional 1,325,948 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Diversified Energy by 3,058.5% during the third quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock worth $8,101,000 after buying an additional 694,866 shares during the last quarter. Barclays PLC boosted its stake in Diversified Energy by 166.9% during the 3rd quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after acquiring an additional 322,986 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Diversified Energy by 42.4% during the third quarter. State Street Corp now owns 552,844 shares of the company’s stock worth $6,291,000 after purchasing an additional 164,728 shares in the last quarter. 26.51% of the stock is owned by institutional investors.

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.