Zacks Research Upgrades Diversified Energy (NYSE:DEC) to “Hold”

Diversified Energy (NYSE:DEC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Weiss Ratings raised Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Truist Financial initiated coverage on shares of Diversified Energy in a research note on Tuesday. They set a “buy” rating and a $22.00 price objective for the company. Mizuho lifted their target price on shares of Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Johnson Rice upgraded shares of Diversified Energy from an “accumulate” rating to a “buy” rating and upped their target price for the stock from $19.00 to $23.00 in a research note on Friday, December 5th. Finally, Citigroup increased their price target on shares of Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.20.

Diversified Energy Stock Up 2.1%

DEC stock opened at $17.74 on Wednesday. The business has a 50 day moving average of $13.92 and a 200 day moving average of $14.03. The firm has a market cap of $1.35 billion, a PE ratio of 12.07 and a beta of 0.46. Diversified Energy has a twelve month low of $10.08 and a twelve month high of $17.87. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.73.

Diversified Energy (NYSE:DEC) last released its earnings results on Friday, February 6th. The company reported $2.28 EPS for the quarter. On average, research analysts forecast that Diversified Energy will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Randall S. Wade sold 2,100,000 shares of Diversified Energy stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $13.28, for a total value of $27,888,000.00. Following the completion of the sale, the director directly owned 7,501,585 shares in the company, valued at approximately $99,621,048.80. This trade represents a 21.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently bought and sold shares of DEC. EIG Asset Management LLC purchased a new stake in shares of Diversified Energy during the 4th quarter valued at about $139,031,000. Ameriprise Financial Inc. lifted its position in Diversified Energy by 11.8% during the third quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock valued at $57,567,000 after purchasing an additional 435,222 shares during the period. Jupiter Asset Management Ltd. bought a new position in Diversified Energy during the fourth quarter valued at approximately $46,334,000. Artemis Investment Management LLP boosted its holdings in Diversified Energy by 114.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock worth $37,555,000 after purchasing an additional 1,384,073 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Diversified Energy by 47.6% in the third quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock worth $33,333,000 after purchasing an additional 767,378 shares during the last quarter. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Company Profile

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.