Diversified Energy (NYSE:DEC) Given New $16.00 Price Target at Citigroup

Diversified Energy (NYSE:DEC) had its price objective lowered by Citigroup from $19.00 to $16.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on DEC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a research note on Wednesday, October 8th. Mizuho reduced their price objective on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Diversified Energy Price Performance

DEC opened at $12.84 on Monday. Diversified Energy has a 52 week low of $10.08 and a 52 week high of $17.70. The business’s fifty day simple moving average is $14.70 and its 200 day simple moving average is $14.10.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 annualized dividend and a dividend yield of 9.0%.

Institutional Trading of Diversified Energy

Several large investors have recently modified their holdings of the business. Viking Fund Management LLC bought a new stake in shares of Diversified Energy in the third quarter worth about $210,000. Tower Research Capital LLC TRC grew its stake in shares of Diversified Energy by 261.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock worth $74,000 after purchasing an additional 3,666 shares during the last quarter. Massar Capital Management LP bought a new stake in shares of Diversified Energy in the second quarter worth about $152,000. Bridgeway Capital Management LLC grew its stake in shares of Diversified Energy by 3.9% in the second quarter. Bridgeway Capital Management LLC now owns 489,778 shares of the company’s stock worth $7,185,000 after purchasing an additional 18,572 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Diversified Energy by 164.4% in the second quarter. Bank of America Corp DE now owns 308,774 shares of the company’s stock worth $4,530,000 after purchasing an additional 191,979 shares during the last quarter. 26.51% of the stock is owned by institutional investors.

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.