Brokerages Set Diversified Energy Company PLC (NYSE:DEC) PT at $22.25

Shares of Diversified Energy Company PLC (NYSE:DEC) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $22.25.

Several research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a research report on Saturday, September 27th. Citigroup increased their price objective on Diversified Energy from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded Diversified Energy from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. Finally, Mizuho dropped their price objective on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, September 15th.

Diversified Energy Stock Down 1.5%

Shares of DEC stock opened at $13.68 on Friday. Diversified Energy has a one year low of $10.08 and a one year high of $17.70. The stock has a fifty day moving average price of $15.10 and a 200 day moving average price of $14.11.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 8.5%. The ex-dividend date is Monday, December 1st.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DEC. Bank of America Corp DE raised its stake in Diversified Energy by 36.0% during the fourth quarter. Bank of America Corp DE now owns 75,382 shares of the company’s stock worth $1,266,000 after acquiring an additional 19,972 shares in the last quarter. Artemis Investment Management LLP grew its holdings in shares of Diversified Energy by 15.8% during the first quarter. Artemis Investment Management LLP now owns 412,027 shares of the company’s stock worth $5,571,000 after purchasing an additional 56,117 shares during the last quarter. Mraz Amerine & Associates Inc. grew its holdings in shares of Diversified Energy by 16.6% during the first quarter. Mraz Amerine & Associates Inc. now owns 132,341 shares of the company’s stock worth $1,779,000 after purchasing an additional 18,846 shares during the last quarter. Summit X LLC bought a new stake in shares of Diversified Energy during the first quarter worth $140,000. Finally, Bailard Inc. bought a new stake in shares of Diversified Energy during the first quarter worth $285,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.

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.