JPMorgan Chase & Co. Raises Stake in Diversified Energy Company PLC (NYSE:DEC)

JPMorgan Chase & Co. grew its position in Diversified Energy Company PLC (NYSE:DEC) by 31.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,668 shares of the company’s stock after purchasing an additional 31,509 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.27% of Diversified Energy worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC bought a new position in shares of Diversified Energy during the 3rd quarter valued at approximately $31,000. Signaturefd LLC raised its stake in Diversified Energy by 181.8% during the fourth quarter. Signaturefd LLC now owns 7,763 shares of the company’s stock valued at $130,000 after purchasing an additional 5,008 shares in the last quarter. Callan Family Office LLC bought a new position in Diversified Energy during the fourth quarter valued at $248,000. Intech Investment Management LLC purchased a new position in shares of Diversified Energy in the 4th quarter worth $293,000. Finally, SG Americas Securities LLC increased its holdings in shares of Diversified Energy by 21.1% in the 4th quarter. SG Americas Securities LLC now owns 18,687 shares of the company’s stock worth $314,000 after buying an additional 3,255 shares during the last quarter. 26.51% of the stock is owned by hedge funds and other institutional investors.

Diversified Energy Price Performance

Shares of DEC stock opened at $12.04 on Thursday. Diversified Energy Company PLC has a 12-month low of $10.08 and a 12-month high of $17.70. The business’s fifty day simple moving average is $12.65 and its 200-day simple moving average is $14.19.

Diversified Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 9.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Mizuho assumed coverage on Diversified Energy in a research note on Thursday, April 10th. They issued an “outperform” rating and a $23.00 price objective for the company. Truist Financial raised their price target on Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, KeyCorp cut their price objective on shares of Diversified Energy from $21.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday.

Diversified Energy Profile

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.