Diversified Energy (NYSE:DEC) Shares Gap Up – Time to Buy?

Diversified Energy Company PLC (NYSE:DEC)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $11.18, but opened at $11.66. Diversified Energy shares last traded at $11.69, with a volume of 74,124 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on DEC shares. Truist Financial upped their target price on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 6th. KeyCorp upped their price objective on shares of Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th.

Diversified Energy Stock Up 1.3 %

The company has a fifty day moving average price of $15.78 and a 200-day moving average price of $14.10.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DEC. Creative Planning purchased a new position in shares of Diversified Energy during the 3rd quarter valued at approximately $350,000. M&G PLC increased its holdings in Diversified Energy by 5.1% in the third quarter. M&G PLC now owns 1,803,398 shares of the company’s stock valued at $20,523,000 after buying an additional 87,775 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of Diversified Energy in the third quarter worth about $235,000. Empowered Funds LLC purchased a new stake in shares of Diversified Energy during the 3rd quarter worth about $1,486,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Diversified Energy by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock worth $1,291,000 after acquiring an additional 1,910 shares in the last quarter. 26.51% of the stock is owned by institutional investors and hedge funds.

Diversified Energy Company Profile

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.