Diversified Energy (NYSE:DEC) Shares Gap Up – Time to Buy?

Diversified Energy Company PLC (NYSE:DEC)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $14.80, but opened at $15.50. Diversified Energy shares last traded at $15.0390, with a volume of 84,399 shares.

Analysts Set New Price Targets

DEC has been the subject of a number of recent analyst reports. Citigroup lifted their price target on shares of Diversified Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Mizuho reduced their price target on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, October 8th. Finally, William Blair began coverage on Diversified Energy in a research note on Tuesday, November 18th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Diversified Energy Stock Down 1.2%

The firm has a 50 day moving average price of $13.77 and a 200 day moving average price of $14.45. The stock has a market cap of $709.41 million, a PE ratio of 10.01 and a beta of 0.62.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.29 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.16 annualized dividend and a dividend yield of 7.9%. Diversified Energy’s payout ratio is currently 55.10%.

Hedge Funds Weigh In On Diversified Energy

Several institutional investors have recently bought and sold shares of the business. Pentwater Capital Management LP bought a new stake in shares of Diversified Energy in the 1st quarter valued at about $3,245,000. Walleye Capital LLC lifted its position in Diversified Energy by 1,164.0% during the first quarter. Walleye Capital LLC now owns 167,984 shares of the company’s stock valued at $2,271,000 after acquiring an additional 154,694 shares during the last quarter. State of Wyoming purchased a new stake in Diversified Energy during the first quarter valued at approximately $266,000. Russell Investments Group Ltd. boosted its stake in Diversified Energy by 53.3% in the first quarter. Russell Investments Group Ltd. now owns 77,403 shares of the company’s stock valued at $1,046,000 after acquiring an additional 26,899 shares in the last quarter. Finally, Penn Capital Management Company LLC purchased a new position in Diversified Energy in the first quarter worth $805,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

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.