Wall Street Zen Downgrades Diversified Energy (NYSE:DEC) to Hold

Diversified Energy (NYSE:DEC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also commented on the company. Mizuho raised their price target on Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. William Blair began coverage on shares of Diversified Energy in a research report on Tuesday, November 18th. They issued an “outperform” rating for the company. Citigroup reduced their price target on shares of Diversified Energy from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Johnson Rice upgraded shares of Diversified Energy from an “accumulate” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $23.00 in a report on Friday, December 5th. Finally, Zacks Research cut Diversified Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.50.

Diversified Energy Price Performance

NYSE DEC opened at $13.23 on Friday. Diversified Energy has a 1 year low of $10.08 and a 1 year high of $17.03. The business’s 50-day moving average is $13.65 and its 200 day moving average is $14.22.

Diversified Energy (NYSE:DEC) last released its quarterly earnings results on Friday, February 6th. The company reported $2.28 EPS for the quarter. As a group, research analysts predict that Diversified Energy will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling at Diversified Energy

In other news, Director Randall S. Wade sold 2,100,000 shares of Diversified Energy stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $13.28, for a total transaction of $27,888,000.00. Following the completion of the transaction, the director directly owned 7,501,585 shares in the company, valued at approximately $99,621,048.80. This trade represents a 21.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Diversified Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EIG Asset Management LLC purchased a new position in Diversified Energy during the fourth quarter valued at $139,031,000. Ameriprise Financial Inc. grew its stake in shares of Diversified Energy by 11.8% in the third quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock worth $57,567,000 after acquiring an additional 435,222 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Diversified Energy during the fourth quarter valued at $46,334,000. Artemis Investment Management LLP increased its holdings in shares of Diversified Energy by 114.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock valued at $37,555,000 after acquiring an additional 1,384,073 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in shares of Diversified Energy by 47.6% in the 3rd quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock worth $33,333,000 after purchasing an additional 767,378 shares during the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Company Profile

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.