Diversified Energy (NYSE:DEC) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Diversified Energy (NYSE:DEC) from a buy rating to a hold rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently weighed in on the company. Citigroup lifted their price target on Diversified Energy from $16.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Mizuho cut their price target on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.25.

Diversified Energy Stock Performance

Shares of DEC stock opened at $12.59 on Friday. The business has a 50 day moving average of $14.76 and a two-hundred day moving average of $14.08. Diversified Energy has a 52 week low of $10.08 and a 52 week high of $17.70.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.16 annualized dividend and a yield of 9.2%.

Institutional Investors Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEC. Ameriprise Financial Inc. bought a new stake in Diversified Energy during the second quarter worth approximately $53,894,000. Tejara Capital Ltd grew its position in Diversified Energy by 1,903.1% in the second quarter. Tejara Capital Ltd now owns 1,905,333 shares of the company’s stock worth $27,951,000 after buying an additional 1,810,214 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Diversified Energy by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock worth $16,060,000 after buying an additional 760,428 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new position in Diversified Energy in the second quarter worth approximately $9,084,000. Finally, Woodline Partners LP grew 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 worth $9,201,000 after buying an additional 307,133 shares during the last quarter. Institutional investors own 26.51% of the company’s stock.

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.