22,531 Shares in Diversified Energy Company PLC $DEC Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new position in Diversified Energy Company PLC (NYSE:DEC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,531 shares of the company’s stock, valued at approximately $323,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its stake in Diversified Energy by 273.1% in the second quarter. CWM LLC now owns 1,787 shares of the company’s stock worth $26,000 after purchasing an additional 1,308 shares during the period. Oakworth Capital Inc. purchased a new stake in Diversified Energy in the second quarter worth $73,000. Federated Hermes Inc. purchased a new stake in Diversified Energy in the first quarter worth $108,000. Summit X LLC purchased a new stake in Diversified Energy in the first quarter worth $140,000. Finally, AQR Capital Management LLC purchased a new stake in Diversified Energy in the first quarter worth $151,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

Diversified Energy Price Performance

Diversified Energy stock opened at $13.07 on Friday. Diversified Energy Company PLC has a one year low of $10.08 and a one year high of $17.70. The stock has a market capitalization of $630.33 million, a PE ratio of 8.89 and a beta of 0.65. The business’s fifty day moving average is $14.51 and its 200 day moving average is $14.13.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 annualized dividend and a dividend yield of 8.9%. Diversified Energy’s dividend payout ratio (DPR) is 55.10%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a research note on Friday. Citigroup dropped their target price on Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Mizuho dropped their target price on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Wall Street Zen downgraded Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.50.

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.