Diversified Energy Company PLC (NYSE:DEC) Sees Large Growth in Short Interest

Diversified Energy Company PLC (NYSE:DEC) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 3,251,802 shares, an increase of 52.9% from the March 15th total of 2,126,571 shares. Based on an average daily volume of 2,162,518 shares, the short-interest ratio is presently 1.5 days. Approximately 4.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Diversified Energy by 168.8% in the 1st quarter. Royal Bank of Canada now owns 26,366 shares of the company’s stock valued at $356,000 after purchasing an additional 16,556 shares during the period. Amundi lifted its stake in shares of Diversified Energy by 4.1% in the 1st quarter. Amundi now owns 50,406 shares of the company’s stock valued at $654,000 after purchasing an additional 1,995 shares during the period. AQR Capital Management LLC acquired a new position in shares of Diversified Energy in the 1st quarter valued at about $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Diversified Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock valued at $377,000 after purchasing an additional 1,170 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Diversified Energy by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock valued at $16,060,000 after purchasing an additional 760,428 shares during the period. Institutional investors and hedge funds own 26.51% of the company’s stock.

Diversified Energy Trading Down 1.6%

Shares of NYSE DEC opened at $15.53 on Thursday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.60 and a current ratio of 0.60. Diversified Energy has a 52-week low of $11.21 and a 52-week high of $18.90. The firm has a 50 day moving average price of $15.02 and a two-hundred day moving average price of $14.23. The stock has a market cap of $1.12 billion, a P/E ratio of 10.56 and a beta of -0.23.

Diversified Energy (NYSE:DEC) last announced its quarterly earnings results on Friday, February 6th. The company reported $2.28 earnings per share (EPS) for the quarter. As a group, equities analysts forecast that Diversified Energy will post 0.18 EPS for the current year.

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be given a $0.29 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.5%. Diversified Energy’s payout ratio is 78.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup lifted 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. Zacks Research raised shares of Diversified Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Truist Financial decreased their price target on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Wall Street Zen lowered shares of Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, KeyCorp boosted their price objective on Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.83.

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.