Purkiss Capital Advisors LLC Takes $148,000 Position in Diversified Energy Company PLC $DEC

Purkiss Capital Advisors LLC acquired a new stake in shares of Diversified Energy Company PLC (NYSE:DEC) during the second quarter, Holdings Channel reports. The institutional investor acquired 10,118 shares of the company’s stock, valued at approximately $148,000.

Several other hedge funds also recently added to or reduced their stakes in DEC. Goldman Sachs Group Inc. boosted its holdings 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 valued at $16,060,000 after purchasing an additional 760,428 shares during the last quarter. Woodline Partners LP boosted its holdings 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 purchasing an additional 307,133 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Diversified Energy in the first quarter valued at $3,988,000. Pentwater Capital Management LP purchased a new stake in Diversified Energy in the first quarter valued at $3,245,000. Finally, Bridgeway Capital Management LLC boosted its holdings in Diversified Energy by 85.0% in the first quarter. Bridgeway Capital Management LLC now owns 471,206 shares of the company’s stock valued at $6,371,000 after purchasing an additional 216,486 shares during the last quarter. 26.51% of the stock is owned by hedge funds and other institutional investors.

Diversified Energy Stock Performance

Shares of Diversified Energy stock opened at $12.69 on Wednesday. Diversified Energy Company PLC has a fifty-two week low of $10.08 and a fifty-two week high of $17.70. The firm has a 50-day simple moving average of $14.43 and a two-hundred day simple moving average of $14.17. The company has a market cap of $611.82 million, a P/E ratio of 8.63 and a beta of 0.65.

Diversified Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 9.1%. The ex-dividend date is Monday, December 1st. Diversified Energy’s dividend payout ratio is 55.10%.

Analyst Ratings Changes

DEC has been the topic of several recent research reports. Citigroup lowered their price target on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, October 8th. Mizuho lowered their price target on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Diversified Energy currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Diversified Energy 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.