Diversified Energy (NYSE:DEC) Stock Price Expected to Rise, KeyCorp Analyst Says

Diversified Energy (NYSE:DEC) had its price objective boosted by equities researchers at KeyCorp from $18.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 17.03% from the company’s current price.

DEC has been the subject of a number of other research reports. Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Citigroup boosted their target price on shares of Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Truist Financial initiated coverage on shares of Diversified Energy in a research note on Tuesday, March 24th. They issued a “buy” rating and a $22.00 target price for the company. Weiss Ratings raised shares of Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Finally, Zacks Research raised shares of Diversified Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Diversified Energy has a consensus rating of “Moderate Buy” and a consensus target price of $21.80.

Diversified Energy Trading Down 0.0%

Shares of DEC opened at $17.09 on Thursday. Diversified Energy has a 12 month low of $10.08 and a 12 month high of $18.90. The stock’s 50-day moving average is $14.49 and its two-hundred day moving average is $14.12. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $1.24 billion, a PE ratio of 11.63 and a beta of -0.23.

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

Insider Activity

In other news, Director Randall S. Wade sold 2,100,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $99,621,048.80. This represents a 21.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of Diversified Energy

Institutional investors have recently added to or reduced their stakes in the stock. EIG Asset Management LLC bought a new position in Diversified Energy during the 4th quarter valued at $139,031,000. Ameriprise Financial Inc. bought a new stake in shares of Diversified Energy in the 2nd quarter worth about $53,894,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Diversified Energy in the 4th quarter valued at about $46,334,000. Man Group plc acquired a new stake in shares of Diversified Energy in the 4th quarter valued at about $27,463,000. Finally, Artemis Investment Management LLP lifted its position 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 worth $37,555,000 after purchasing an additional 1,384,073 shares during the last quarter. 26.51% of the stock is owned by institutional investors and hedge funds.

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.