Diversified Energy Company PLC (NYSE:DEC) Position Increased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its position in shares of Diversified Energy Company PLC (NYSE:DEC) by 112.5% during the fourth quarter, Holdings Channel reports. The fund owned 384,689 shares of the company’s stock after acquiring an additional 203,700 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Diversified Energy were worth $6,463,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE grew its position in Diversified Energy by 36.0% during the 4th quarter. Bank of America Corp DE now owns 75,382 shares of the company’s stock worth $1,266,000 after purchasing an additional 19,972 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Diversified Energy during the fourth quarter valued at $1,300,000. Jane Street Group LLC raised its position in Diversified Energy by 276.8% during the fourth quarter. Jane Street Group LLC now owns 128,261 shares of the company’s stock valued at $2,157,000 after buying an additional 94,225 shares during the period. Castalian Partners LLC purchased a new stake in Diversified Energy in the 4th quarter worth about $1,680,000. Finally, Northern Trust Corp boosted its position in Diversified Energy by 3.0% during the 4th quarter. Northern Trust Corp now owns 283,820 shares of the company’s stock worth $4,768,000 after acquiring an additional 8,375 shares during the period. Institutional investors and hedge funds own 26.51% of the company’s stock.

Diversified Energy Stock Performance

NYSE:DEC opened at $13.12 on Friday. The stock’s 50 day moving average price is $12.31 and its 200 day moving average price is $14.27. Diversified Energy Company PLC has a 52 week low of $10.08 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. Investors of record on Friday, May 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.84%. The ex-dividend date is Friday, May 30th.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DEC. KeyCorp reduced their price target on shares of Diversified Energy from $21.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Citigroup assumed coverage on shares of Diversified Energy in a research note on Tuesday, April 29th. They set a “buy” rating and a $16.00 target price for the company. Finally, Mizuho assumed coverage on shares of Diversified Energy in a research note on Thursday, April 10th. They issued an “outperform” rating and a $23.00 price target on the 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.