Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 2,610,000 shares, a decrease of 5.4% from the August 31st total of 2,760,000 shares. Approximately 5.7% of the company’s stock are sold short. Based on an average daily trading volume, of 418,600 shares, the days-to-cover ratio is presently 6.2 days.

Diversified Energy Stock Performance

Shares of DEC opened at $11.65 on Wednesday. The company’s fifty day moving average is $12.81 and its 200-day moving average is $13.51. Diversified Energy has a 12 month low of $10.54 and a 12 month high of $20.00. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.44.

Diversified Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, November 29th. This represents a $1.16 annualized dividend and a dividend yield of 9.96%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DEC. M&G Plc acquired a new position in shares of Diversified Energy during the 1st quarter worth $20,639,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Diversified Energy by 838.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,484,083 shares of the company’s stock worth $17,773,000 after buying an additional 1,325,948 shares during the period. Allianz Asset Management GmbH bought a new stake in shares of Diversified Energy during the 4th quarter worth $16,390,000. Bank of New York Mellon Corp bought a new stake in shares of Diversified Energy during the 2nd quarter worth $1,983,000. Finally, Rhumbline Advisers bought a new stake in shares of Diversified Energy during the 2nd quarter worth $927,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on DEC shares. Truist Financial dropped their price objective on shares of Diversified Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday. KeyCorp initiated coverage on shares of Diversified Energy in a research note on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 price objective on the stock.

About Diversified Energy

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.