Ballentine Partners LLC Invests $175,000 in Diversified Energy Company PLC $DEC

Ballentine Partners LLC bought a new position in Diversified Energy Company PLC (NYSE:DEC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,944 shares of the company’s stock, valued at approximately $175,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DEC. Bank of America Corp DE lifted its stake 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 buying an additional 19,972 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Diversified Energy by 3.8% in the fourth quarter. Nuveen Asset Management LLC now owns 165,797 shares of the company’s stock worth $2,787,000 after buying an additional 6,120 shares in the last quarter. Artemis Investment Management LLP lifted its stake in shares of Diversified Energy by 15.8% in the first quarter. Artemis Investment Management LLP now owns 412,027 shares of the company’s stock worth $5,571,000 after buying an additional 56,117 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its stake in shares of Diversified Energy by 16.6% in the first quarter. Mraz Amerine & Associates Inc. now owns 132,341 shares of the company’s stock worth $1,779,000 after buying an additional 18,846 shares in the last quarter. Finally, Summit X LLC bought a new position in shares of Diversified Energy in the first quarter worth approximately $140,000. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Up 0.4%

NYSE:DEC opened at $14.01 on Wednesday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.54 and a quick ratio of 0.40. The business’s 50-day simple moving average is $15.17 and its two-hundred day simple moving average is $14.10. Diversified Energy Company PLC has a 52 week low of $10.08 and a 52 week high of $17.70.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 dividend on an annualized basis and a yield of 8.3%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Diversified Energy from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Citigroup increased their price objective on shares of Diversified Energy from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Finally, Mizuho lowered their price objective on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $22.25.

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.