Diversified Energy (NYSE:DEC) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Diversified Energy (NYSE:DEC) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. William Blair initiated coverage on shares of Diversified Energy in a research note on Tuesday, November 18th. They set an “outperform” rating for the company. Mizuho upped their price objective on Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, October 8th. Finally, Johnson Rice upgraded Diversified Energy from an “accumulate” rating to a “buy” rating and upped their price target for the stock from $19.00 to $23.00 in a research note on Friday, December 5th. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.00.

Diversified Energy Trading Up 4.1%

Shares of NYSE:DEC opened at $13.06 on Monday. Diversified Energy has a 1-year low of $10.08 and a 1-year high of $17.24. The firm has a fifty day moving average price of $14.28 and a 200 day moving average price of $14.39.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.9%. Diversified Energy’s dividend payout ratio is 78.91%.

Insider Activity at Diversified Energy

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 completion of the sale, the director owned 7,501,585 shares in the company, valued at $99,621,048.80. This trade represents a 21.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of Diversified Energy by 11.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock worth $57,567,000 after buying an additional 435,222 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in Diversified Energy by 1.2% during the second quarter. Jupiter Asset Management Ltd. now owns 2,926,886 shares of the company’s stock worth $43,478,000 after acquiring an additional 34,406 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Diversified Energy by 47.6% in the third quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock valued at $33,333,000 after purchasing an additional 767,378 shares in the last quarter. Tejara Capital Ltd lifted its holdings in shares of Diversified Energy by 2.5% in the third quarter. Tejara Capital Ltd now owns 1,952,906 shares of the company’s stock valued at $27,360,000 after purchasing an additional 47,573 shares in the last quarter. Finally, M&G PLC grew its position in shares of Diversified Energy by 11.7% in the third quarter. M&G PLC now owns 1,915,325 shares of the company’s stock valued at $26,765,000 after purchasing an additional 200,000 shares during the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

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.