Brokerages Set Diversified Energy Company PLC (NYSE:DEC) Price Target at $21.83

Diversified Energy Company PLC (NYSE:DEC) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $21.8333.

A number of brokerages have commented on DEC. Weiss Ratings upgraded shares of Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Stephens started coverage on shares of Diversified Energy in a report on Wednesday, April 15th. They set an “overweight” rating and a $24.00 price objective for the company. KeyCorp boosted their target price on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a research 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 report on Thursday, April 9th. Finally, Citigroup raised their price target on shares of Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th.

Institutional Investors Weigh In On Diversified Energy

Several large investors have recently modified their holdings of DEC. Pictet Asset Management Holding SA increased its stake in shares of Diversified Energy by 24.8% in the first quarter. Pictet Asset Management Holding SA now owns 13,515 shares of the company’s stock worth $246,000 after purchasing an additional 2,686 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Diversified Energy by 150.0% during the 1st quarter. SG Americas Securities LLC now owns 19,095 shares of the company’s stock valued at $333,000 after buying an additional 11,456 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Diversified Energy during the 4th quarter valued at approximately $344,000. Caitong International Asset Management Co. Ltd bought a new position in Diversified Energy in the 4th quarter worth approximately $47,000. Finally, Invesco Ltd. grew its stake in Diversified Energy by 20.3% in the 4th quarter. Invesco Ltd. now owns 63,583 shares of the company’s stock valued at $921,000 after buying an additional 10,746 shares in the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Performance

Shares of Diversified Energy stock opened at $15.62 on Tuesday. The business has a 50-day simple moving average of $15.28 and a 200 day simple moving average of $14.29. Diversified Energy has a one year low of $12.08 and a one year high of $18.90. 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 firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.63 and a beta of -0.23.

Diversified Energy (NYSE:DEC) last announced 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 3.31 earnings per share for the current fiscal year.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, May 29th. Diversified Energy’s dividend payout ratio (DPR) is presently 78.91%.

Diversified Energy Company Profile

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.