Diversified Energy (NYSE:DEC) Price Target Cut to $16.00 by Analysts at Citigroup

Diversified Energy (NYSE:DEC) had its target price decreased by Citigroup from $19.00 to $16.00 in a report released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research firms also recently commented on DEC. Jefferies Financial Group upgraded Diversified Energy to a “hold” rating in a report on Friday, July 10th. Stephens started coverage on Diversified Energy in a report on Wednesday, April 15th. They set an “overweight” rating and a $24.00 target price on the stock. KeyCorp boosted their price target on Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings downgraded Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Truist Financial decreased their target price on Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Diversified Energy currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Diversified Energy Trading Up 1.5%

NYSE:DEC opened at $13.33 on Tuesday. The stock has a market cap of $964.24 million, a PE ratio of 3.79 and a beta of -0.40. Diversified Energy has a fifty-two week low of $12.33 and a fifty-two week high of $18.90. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.47 and a quick ratio of 0.47. The stock’s 50-day moving average is $14.11 and its two-hundred day moving average is $14.47.

Diversified Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, August 28th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 8.7%. The ex-dividend date is Friday, August 28th. Diversified Energy’s dividend payout ratio is presently 32.95%.

Institutional Trading of Diversified Energy

A number of hedge funds have recently bought and sold shares of the stock. Redhawk Wealth Advisors Inc. acquired a new stake in Diversified Energy in the 2nd quarter worth $259,000. Versant Capital Management Inc raised its position in shares of Diversified Energy by 197.0% during the second quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock valued at $68,000 after buying an additional 3,256 shares during the last quarter. Southern Financial Group LLC acquired a new position in shares of Diversified Energy during the first quarter valued at about $212,000. Optiver Holding B.V. bought a new stake in shares of Diversified Energy in the first quarter valued at about $414,000. Finally, Bank of America Corp DE lifted its stake in shares of Diversified Energy by 57.8% in the first quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock valued at $5,312,000 after buying an additional 111,625 shares during the period. 26.51% of the stock is owned by 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.