Diversified Energy (NYSE:DEC) Research Coverage Started at Stephens

Stephens began coverage on shares of Diversified Energy (NYSE:DEC) in a report released on Wednesday, Marketbeat reports. The brokerage issued an overweight rating and a $24.00 price target on the stock.

Other equities analysts also recently issued reports about the stock. KeyCorp raised their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Truist Financial lowered their target price on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings raised shares of Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Zacks Research upgraded shares of Diversified Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Finally, Citigroup lifted their price objective on Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.83.

Diversified Energy Stock Performance

DEC opened at $15.24 on Wednesday. The stock’s 50 day simple moving average is $15.12 and its 200-day simple moving average is $14.25. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.73. The stock has a market cap of $1.10 billion, a PE ratio of 10.36 and a beta of -0.23. Diversified Energy has a 1 year low of $11.21 and a 1 year high of $18.90.

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

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a $0.29 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 7.6%. Diversified Energy’s payout ratio is 78.91%.

Institutional Trading of Diversified Energy

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Diversified Energy by 168.8% in the 1st quarter. Royal Bank of Canada now owns 26,366 shares of the company’s stock worth $356,000 after acquiring an additional 16,556 shares in the last quarter. Amundi increased its holdings in Diversified Energy by 4.1% during the 1st quarter. Amundi now owns 50,406 shares of the company’s stock valued at $654,000 after purchasing an additional 1,995 shares in the last quarter. AQR Capital Management LLC bought a new position in Diversified Energy in the 1st quarter valued at $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 purchasing an additional 1,170 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Diversified Energy by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock worth $16,060,000 after purchasing an additional 760,428 shares in 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.