Callan Family Office LLC grew its stake in shares of Diversified Energy Company PLC (NYSE:DEC – Free Report) by 5.8% in the second quarter, Holdings Channel reports. The institutional investor owned 15,639 shares of the company’s stock after purchasing an additional 861 shares during the period. Callan Family Office LLC’s holdings in Diversified Energy were worth $229,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of Diversified Energy by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock worth $16,060,000 after purchasing an additional 760,428 shares during the last quarter. Woodline Partners LP boosted its position in Diversified Energy by 82.2% in the first quarter. Woodline Partners LP now owns 680,580 shares of the company’s stock valued at $9,201,000 after buying an additional 307,133 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Diversified Energy during the first quarter worth about $3,988,000. Pentwater Capital Management LP bought a new position in Diversified Energy in the 1st quarter valued at $3,245,000. Finally, Bridgeway Capital Management LLC boosted its stake in Diversified Energy by 85.0% in the first quarter. Bridgeway Capital Management LLC now owns 471,206 shares of the company’s stock worth $6,371,000 after purchasing an additional 216,486 shares in the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.
Analysts Set New Price Targets
DEC has been the subject of several recent research reports. Mizuho dropped their price objective on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Wall Street Zen upgraded shares of Diversified Energy from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Diversified Energy in a research report on Wednesday, October 8th. Finally, Citigroup lifted their price objective on Diversified Energy from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Diversified Energy presently has a consensus rating of “Moderate Buy” and an average price target of $22.25.
Diversified Energy Price Performance
NYSE DEC opened at $12.47 on Friday. The business’s fifty day moving average is $14.80 and its 200 day moving average is $14.09. Diversified Energy Company PLC has a twelve month low of $10.08 and a twelve month high of $17.70.
Diversified Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date is Monday, December 1st.
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.
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