Trexquant Investment LP Makes New Investment in Diversified Energy Company PLC $DEC

Trexquant Investment LP purchased a new position in Diversified Energy Company PLC (NYSE:DEC) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,432 shares of the company’s stock, valued at approximately $155,000.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. acquired a new position in shares of Diversified Energy during the 1st quarter valued at $108,000. Summit X LLC acquired a new stake in shares of Diversified Energy in the first quarter worth about $140,000. ProShare Advisors LLC bought a new position in shares of Diversified Energy in the fourth quarter worth about $222,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Diversified Energy by 29.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,264 shares of the company’s stock worth $232,000 after purchasing an additional 3,911 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Diversified Energy during the first quarter valued at about $283,000. 26.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on DEC. Mizuho boosted their target price on Diversified Energy from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. Wall Street Zen raised shares of Diversified Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Citigroup increased their price objective on shares of Diversified Energy from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $22.50.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $15.70 on Thursday. The firm has a fifty day moving average price of $15.17 and a two-hundred day moving average price of $13.88. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.54 and a quick ratio of 0.40. Diversified Energy Company PLC has a one year low of $10.08 and a one year high of $17.70.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 annualized dividend and a yield of 7.4%.

About Diversified Energy

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.