Rhumbline Advisers Sells 1,401 Shares of Diversified Energy Company PLC (NYSE:DEC)

Rhumbline Advisers decreased its position in Diversified Energy Company PLC (NYSE:DEC) by 2.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 68,394 shares of the company’s stock after selling 1,401 shares during the period. Rhumbline Advisers owned about 0.14% of Diversified Energy worth $925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quantinno Capital Management LP grew its holdings in shares of Diversified Energy by 197.4% in the fourth quarter. Quantinno Capital Management LP now owns 43,815 shares of the company’s stock worth $736,000 after purchasing an additional 29,084 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Diversified Energy in the fourth quarter worth approximately $352,000. JPMorgan Chase & Co. grew its holdings in shares of Diversified Energy by 31.8% in the fourth quarter. JPMorgan Chase & Co. now owns 130,668 shares of the company’s stock worth $2,195,000 after purchasing an additional 31,509 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Diversified Energy by 36.0% in the fourth quarter. Bank of America Corp DE now owns 75,382 shares of the company’s stock worth $1,266,000 after purchasing an additional 19,972 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Diversified Energy by 18.7% in the fourth quarter. Deutsche Bank AG now owns 118,381 shares of the company’s stock worth $1,989,000 after purchasing an additional 18,638 shares during the last quarter. Institutional investors own 26.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on DEC shares. KeyCorp cut their price target on shares of Diversified Energy from $21.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Mizuho started coverage on shares of Diversified Energy in a report on Thursday, April 10th. They issued an “outperform” rating and a $23.00 price target on the stock. Wall Street Zen upgraded shares of Diversified Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Citigroup started coverage on shares of Diversified Energy in a report on Tuesday, April 29th. They issued a “buy” rating and a $16.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.75.

Diversified Energy Stock Performance

Shares of DEC stock opened at $15.04 on Friday. Diversified Energy Company PLC has a 12 month low of $10.08 and a 12 month high of $17.70. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.40 and a current ratio of 0.40. The company’s fifty day moving average price is $13.47 and its 200-day moving average price is $14.33.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.71%. The ex-dividend date is Friday, August 29th.

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.