Diversified Energy (NYSE:DEC) Upgraded at Zacks Research

Zacks Research upgraded shares of Diversified Energy (NYSE:DEC) from a strong sell rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other analysts have also commented on DEC. Mizuho boosted their target price on 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 stock a “buy” rating in a report on Tuesday, March 17th. Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Truist Financial initiated coverage on Diversified Energy in a report on Tuesday. They set a “buy” rating and a $22.00 price objective for the company. Finally, Johnson Rice raised Diversified Energy from an “accumulate” rating to a “buy” rating and upped their target price for the stock from $19.00 to $23.00 in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.20.

Diversified Energy Stock Up 2.1%

Shares of NYSE DEC opened at $18.15 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.73. The firm has a market cap of $1.31 billion, a PE ratio of 12.35 and a beta of 0.46. The company’s fifty day simple moving average is $14.04 and its 200 day simple moving average is $14.06. Diversified Energy has a 12-month low of $10.08 and a 12-month high of $18.30.

Diversified Energy (NYSE:DEC) last posted its quarterly earnings results on Friday, February 6th. The company reported $2.28 earnings per share for the quarter. As a group, sell-side analysts forecast that Diversified Energy will post 0.18 earnings per share for the current fiscal year.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 dividend yield of 6.4%. The ex-dividend date is Friday, May 29th. Diversified Energy’s dividend payout ratio is currently 78.91%.

Insiders Place Their Bets

In related news, Director Randall S. Wade sold 2,100,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $13.28, for a total value of $27,888,000.00. Following the transaction, the director owned 7,501,585 shares of the company’s stock, valued at approximately $99,621,048.80. This trade represents a 21.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Diversified Energy

Several institutional investors and hedge funds have recently modified their holdings of DEC. Royal Bank of Canada lifted its holdings in shares of Diversified Energy by 168.8% in the first quarter. Royal Bank of Canada now owns 26,366 shares of the company’s stock valued at $356,000 after purchasing an additional 16,556 shares in the last quarter. Amundi grew its holdings in Diversified Energy by 4.1% during the first quarter. Amundi now owns 50,406 shares of the company’s stock worth $654,000 after buying an additional 1,995 shares in the last quarter. AQR Capital Management LLC bought a new stake in Diversified Energy during the first quarter worth $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Diversified Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock valued at $377,000 after buying an additional 1,170 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Diversified Energy by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock valued at $16,060,000 after buying an additional 760,428 shares during the last quarter. 26.51% of the stock is owned by hedge funds and other institutional investors.

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.