Diversified Energy (NYSE:DEC) Coverage Initiated by Analysts at Truist Financial

Truist Financial began coverage on shares of Diversified Energy (NYSE:DEC) in a research note released on Tuesday, Marketbeat reports. The firm issued a buy rating and a $22.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on the stock. Zacks Research cut shares of Diversified Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Mizuho upped their target price on shares of Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Citigroup increased their price target on Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings raised Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Diversified Energy currently has an average rating of “Moderate Buy” and a consensus target price of $21.20.

Diversified Energy Stock Performance

Shares of NYSE:DEC opened at $16.65 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.73. Diversified Energy has a 1-year low of $10.08 and a 1-year high of $17.22. The stock has a market capitalization of $1.27 billion, a P/E ratio of 11.32 and a beta of 0.46. The business has a 50-day moving average price of $13.73 and a two-hundred day moving average price of $13.98.

Diversified Energy (NYSE:DEC) last issued its earnings results on Friday, February 6th. The company reported $2.28 earnings per share (EPS) for the quarter. Equities analysts predict that Diversified Energy will post 0.18 earnings per share for the current year.

Diversified Energy Dividend Announcement

The business 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 dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, May 29th. Diversified Energy’s dividend payout ratio (DPR) is 78.91%.

Insiders Place Their Bets

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 stock was 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 of the company’s stock, valued at $99,621,048.80. This represents a 21.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Diversified Energy

A number of large investors have recently bought and sold shares of DEC. Quarry LP grew its stake in shares of Diversified Energy by 1,595.2% during the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock worth $30,000 after acquiring an additional 1,994 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Diversified Energy during the fourth quarter worth $32,000. Ensign Peak Advisors Inc bought a new position in Diversified Energy in the fourth quarter valued at $35,000. State of Alaska Department of Revenue bought a new position in Diversified Energy in the third quarter valued at $47,000. Finally, Tower Research Capital LLC TRC increased its stake in Diversified Energy by 261.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock valued at $74,000 after buying an additional 3,666 shares during the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

About Diversified Energy

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.