Mizuho Issues Pessimistic Forecast for Diversified Energy (NYSE:DEC) Stock Price

Diversified Energy (NYSE:DEC) had its price objective dropped by equities research analysts at Mizuho from $32.00 to $29.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 101.04% from the company’s current price.

A number of other research analysts have also issued reports on DEC. Citigroup decreased their target price on Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Truist Financial boosted their price target on shares of Diversified Energy from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Zacks Research upgraded shares of Diversified Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group upgraded shares of Diversified Energy to a “hold” rating in a research report on Friday, July 10th. Finally, Weiss Ratings raised shares of Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Diversified Energy Price Performance

Shares of DEC opened at $14.43 on Friday. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.57 and a quick ratio of 0.57. Diversified Energy has a 12 month low of $12.33 and a 12 month high of $18.90. The stock’s 50 day moving average is $14.42 and its two-hundred day moving average is $14.57.

Diversified Energy (NYSE:DEC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The firm had revenue of $442.30 million during the quarter, compared to analyst estimates of $492.98 million. As a group, sell-side analysts expect that Diversified Energy will post 2.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Diversified Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in DEC. Bank of America Corp DE lifted its stake in shares of Diversified Energy by 57.8% in the first quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock worth $5,312,000 after buying an additional 111,625 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Diversified Energy by 8.3% during the third quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company’s stock worth $82,383,000 after buying an additional 470,823 shares during the last quarter. First Trust Advisors LP purchased a new stake in Diversified Energy in the 1st quarter valued at $10,546,000. Walleye Capital LLC grew its holdings in Diversified Energy by 275.1% in the 1st quarter. Walleye Capital LLC now owns 230,694 shares of the company’s stock valued at $4,023,000 after buying an additional 169,198 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Diversified Energy by 1,504.4% in the 1st quarter. California State Teachers Retirement System now owns 61,385 shares of the company’s stock worth $1,071,000 after acquiring an additional 57,559 shares during the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

About Diversified Energy

Diversified Energy Company plc is an independent energy company that owns and operates a portfolio of mature, producing oil and natural gas wells in the United States. The company focuses on acquiring long-life conventional assets and managing them through their full operating lifecycle, with activities spanning production, maintenance, infrastructure management and well retirement.

The company’s operations are concentrated in established U.S. onshore producing regions, including the Appalachian, Central and Rockies areas.