Diversified Energy Company PLC (NYSE:DEC) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in shares of Diversified Energy Company PLC (NYSE:DEC) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,287 shares of the company’s stock after acquiring an additional 1,085 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of Diversified Energy worth $458,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in Diversified Energy during the third quarter worth about $384,000. Barclays PLC grew its holdings in shares of Diversified Energy by 166.9% in the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock valued at $5,876,000 after purchasing an additional 322,986 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Diversified Energy by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,159 shares of the company’s stock worth $1,128,000 after buying an additional 23,126 shares during the period. CWA Asset Management Group LLC acquired a new stake in Diversified Energy during the 4th quarter worth approximately $390,000. Finally, Artemis Investment Management LLP acquired a new stake in Diversified Energy during the 4th quarter worth approximately $5,979,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. KeyCorp cut their price objective on Diversified Energy from $21.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Citigroup began coverage on Diversified Energy in a report on Tuesday, April 29th. They set a “buy” rating and a $16.00 price target on the stock. Truist Financial increased their price target on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Mizuho assumed coverage on Diversified Energy in a research report on Thursday, April 10th. They set an “outperform” rating and a $23.00 price objective for the company.

Diversified Energy Trading Up 3.3 %

NYSE:DEC opened at $13.03 on Friday. Diversified Energy Company PLC has a 1-year low of $10.08 and a 1-year high of $17.70. The firm’s fifty day moving average price is $12.32 and its 200 day moving average price is $14.24.

Diversified Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 8.90%. The ex-dividend date of this dividend is Friday, May 30th.

Diversified Energy Company 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.