Truist Financial Cuts Diversified Energy (NYSE:DEC) Price Target to $20.00

Diversified Energy (NYSE:DEC) had its price objective cut by Truist Financial from $22.00 to $20.00 in a research report report published on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Citigroup boosted their target price on Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Mizuho upped their target price on Diversified Energy from $26.00 to $27.00 and gave the company 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 report on Monday, March 2nd. KeyCorp upped their target price on Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Finally, Zacks Research raised Diversified Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.40.

Diversified Energy Trading Up 2.5%

Shares of NYSE:DEC opened at $16.73 on Thursday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.38 and a beta of -0.23. Diversified Energy has a 1-year low of $10.65 and a 1-year high of $18.90. The company has a 50 day moving average price of $14.85 and a 200 day moving average price of $14.20.

Diversified Energy (NYSE:DEC) last posted its quarterly earnings results on Friday, February 6th. The company reported $2.28 earnings per share (EPS) for the quarter. On average, research analysts anticipate 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 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, May 29th. Diversified Energy’s dividend payout ratio (DPR) is presently 78.91%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DEC. Quarry LP boosted its holdings in shares of Diversified Energy by 1,595.2% in the third quarter. Quarry LP now owns 2,119 shares of the company’s stock worth $30,000 after buying an additional 1,994 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Diversified Energy during the fourth quarter valued at $32,000. Ensign Peak Advisors Inc acquired a new position in Diversified Energy during the fourth quarter valued at $35,000. State of Alaska Department of Revenue acquired a new position in Diversified Energy during the third quarter valued at $47,000. Finally, Tower Research Capital LLC TRC raised its position in Diversified Energy by 261.3% during the second 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 period. 26.51% of the stock is currently 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.