KeyCorp Issues Pessimistic Forecast for Diversified Energy (NYSE:DEC) Stock Price

Diversified Energy (NYSE:DEC) had its target price lowered by equities researchers at KeyCorp from $21.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 50.51% from the company’s current price.

A number of other research firms have also commented on DEC. Mizuho started coverage on Diversified Energy in a research note on Thursday, April 10th. They set an “outperform” rating and a $23.00 price objective on the stock. Truist Financial raised their price target on Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, January 6th.

Diversified Energy Stock Down 3.9 %

Shares of DEC traded down $0.46 during mid-day trading on Monday, hitting $11.30. 33,970 shares of the company’s stock were exchanged, compared to its average volume of 353,646. Diversified Energy has a 52 week low of $10.08 and a 52 week high of $17.70. The stock’s 50-day simple moving average is $12.95 and its 200-day simple moving average is $14.22.

Institutional Investors Weigh In On Diversified Energy

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC acquired a new position in shares of Diversified Energy during the third quarter worth $31,000. Signaturefd LLC grew its position in Diversified Energy by 181.8% during the 4th quarter. Signaturefd LLC now owns 7,763 shares of the company’s stock worth $130,000 after acquiring an additional 5,008 shares during the last quarter. ProShare Advisors LLC acquired a new position in Diversified Energy in the 4th quarter worth about $222,000. Walleye Capital LLC bought a new position in Diversified Energy in the fourth quarter valued at about $223,000. Finally, Callan Family Office LLC acquired a new stake in shares of Diversified Energy during the fourth quarter valued at about $248,000. 26.51% of the stock is currently 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.