Short Interest in Diversified Energy Company PLC (NYSE:DEC) Increases By 22.4%

Diversified Energy Company PLC (NYSE:DEC) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,140,000 shares, an increase of 22.4% from the March 15th total of 931,000 shares. Based on an average daily volume of 504,100 shares, the short-interest ratio is currently 2.3 days. Approximately 2.4% of the company’s stock are sold short.

Institutional Trading of Diversified Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DEC. Mackenzie Financial Corp grew its holdings in shares of Diversified Energy by 11.7% during the fourth quarter. Mackenzie Financial Corp now owns 100,797 shares of the company’s stock valued at $1,693,000 after buying an additional 10,594 shares during the last quarter. Woodline Partners LP purchased a new stake in Diversified Energy during the 4th quarter valued at $6,274,000. Thomist Capital Management LP bought a new stake in shares of Diversified Energy in the 4th quarter worth $547,000. ProShare Advisors LLC purchased a new position in shares of Diversified Energy in the fourth quarter worth $222,000. Finally, Quantinno Capital Management LP raised its stake in shares of Diversified Energy by 197.4% in the fourth quarter. Quantinno Capital Management LP now owns 43,815 shares of the company’s stock worth $736,000 after purchasing an additional 29,084 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Price Performance

Diversified Energy stock opened at $11.47 on Tuesday. Diversified Energy has a 12 month low of $10.08 and a 12 month high of $17.70. The business’s fifty day simple moving average is $12.84 and its two-hundred day simple moving average is $14.22.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 10.11%. The ex-dividend date is Friday, May 30th.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. KeyCorp dropped their target price on shares of Diversified Energy from $21.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday. Mizuho started coverage on shares of Diversified Energy in a research note on Thursday, April 10th. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, Truist Financial raised their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, January 6th.

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.