Citigroup Issues Positive Forecast for Diversified Energy (NYSE:DEC) Stock Price

Diversified Energy (NYSE:DEC) had its target price increased by Citigroup from $15.00 to $17.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on DEC. Mizuho increased their price target on Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Weiss Ratings raised Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Johnson Rice upgraded shares of Diversified Energy from an “accumulate” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $23.00 in a research note on Friday, December 5th. William Blair initiated coverage on Diversified Energy in a research report on Tuesday, November 18th. They set an “outperform” rating for the company. Finally, Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Diversified Energy Trading Up 1.9%

DEC stock opened at $14.55 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.73. Diversified Energy has a 52-week low of $10.08 and a 52-week high of $16.85. The company’s 50-day simple moving average is $13.47 and its 200-day simple moving average is $13.98. The firm has a market cap of $1.11 billion, a P/E ratio of 9.89 and a beta of 0.46.

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

Diversified Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Friday, May 29th. Diversified Energy’s dividend payout ratio is 78.91%.

Insider Activity at Diversified Energy

In other news, Director Randall S. Wade sold 2,100,000 shares of the company’s stock in a transaction dated 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 owned 7,501,585 shares of the company’s stock, valued at $99,621,048.80. This represents a 21.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Trading of Diversified Energy

A number of hedge funds have recently made changes to their positions in DEC. EIG Asset Management LLC bought a new position in shares of Diversified Energy during the fourth quarter worth about $139,031,000. Ameriprise Financial Inc. acquired a new position in shares of Diversified Energy during the second quarter valued at $53,894,000. Jupiter Asset Management Ltd. bought a new position in Diversified Energy in the 4th quarter worth about $46,334,000. Man Group plc bought a new position in Diversified Energy in the 4th quarter worth approximately $27,463,000. Finally, Tejara Capital Ltd grew its stake in shares of Diversified Energy by 1,903.1% in the second quarter. Tejara Capital Ltd now owns 1,905,333 shares of the company’s stock worth $27,951,000 after purchasing an additional 1,810,214 shares in 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.