Diversified Energy (NYSE:DEC) Price Target Raised to $27.00

Diversified Energy (NYSE:DEC) had its price target boosted by Mizuho from $26.00 to $27.00 in a report released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also commented on the stock. Johnson Rice raised shares of Diversified Energy from an “accumulate” rating to a “buy” rating and upped their price objective for the company from $19.00 to $23.00 in a research report on Friday, December 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Diversified Energy in a research report on Wednesday, October 8th. Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Citigroup raised their target price on Diversified Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, William Blair assumed coverage on shares of Diversified Energy in a report on Tuesday, November 18th. They issued an “outperform” rating on the stock. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

Diversified Energy Trading Down 1.5%

Shares of DEC stock opened at $14.37 on Friday. Diversified Energy has a 1 year low of $10.08 and a 1 year high of $17.70. The firm’s fifty day simple moving average is $14.00 and its 200 day simple moving average is $14.56. The firm has a market capitalization of $691.53 million, a P/E ratio of 9.77 and a beta of 0.47.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 8.1%. The ex-dividend date is Friday, February 27th. Diversified Energy’s dividend payout ratio is currently 55.10%.

Institutional Investors Weigh In On Diversified Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pentwater Capital Management LP acquired a new stake in shares of Diversified Energy during the first quarter worth approximately $3,245,000. State of Wyoming bought a new stake in Diversified Energy during the 1st quarter worth approximately $266,000. Walleye Capital LLC grew its position in Diversified Energy by 1,164.0% during the 1st quarter. Walleye Capital LLC now owns 167,984 shares of the company’s stock worth $2,271,000 after acquiring an additional 154,694 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Diversified Energy by 53.3% during the 1st quarter. Russell Investments Group Ltd. now owns 77,403 shares of the company’s stock valued at $1,046,000 after purchasing an additional 26,899 shares in the last quarter. Finally, Penn Capital Management Company LLC bought a new position in Diversified Energy in the 1st quarter valued at $805,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

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.