Diversified Energy (NYSE:DEC) Upgraded at Truist Financial

Truist Financial upgraded shares of Diversified Energy (NYSE:DEC) to a strong-buy rating in a report released on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Mizuho raised their price target on Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Zacks Research lowered Diversified Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Citigroup upped their price objective on Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Finally, Johnson Rice upgraded Diversified Energy from an “accumulate” rating to a “buy” rating and increased their price objective for the company from $19.00 to $23.00 in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.20.

Diversified Energy Trading Up 4.4%

Shares of Diversified Energy stock opened at $17.35 on Monday. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.60 and a quick ratio of 0.60. Diversified Energy has a 1 year low of $10.08 and a 1 year high of $17.40. The firm has a market cap of $1.32 billion, a PE ratio of 11.80 and a beta of 0.46. The company has a 50 day simple moving average of $13.82 and a two-hundred day simple moving average of $14.01.

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

Diversified Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 6.7%. Diversified Energy’s dividend payout ratio (DPR) is currently 78.91%.

Insider Buying and Selling

In related news, Director Randall S. Wade sold 2,100,000 shares of Diversified Energy stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of Diversified Energy

Several institutional investors have recently added to or reduced their stakes in DEC. Quarry LP grew its stake in shares of Diversified Energy by 1,595.2% during the third quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after buying an additional 1,994 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Diversified Energy in the 4th quarter valued at about $32,000. Ensign Peak Advisors Inc purchased a new stake in Diversified Energy during the 4th quarter valued at about $35,000. State of Alaska Department of Revenue purchased a new stake in Diversified Energy during the 3rd quarter valued at about $47,000. Finally, Tower Research Capital LLC TRC grew its position in Diversified Energy by 261.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock worth $74,000 after acquiring an additional 3,666 shares during the last quarter. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

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.