Rathbones Group PLC Purchases 51,334 Shares of Diversified Energy Company PLC $DEC

Rathbones Group PLC lifted its position in shares of Diversified Energy Company PLC (NYSE:DEC) by 19.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 321,650 shares of the company’s stock after acquiring an additional 51,334 shares during the period. Rathbones Group PLC owned approximately 0.67% of Diversified Energy worth $4,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC raised its position in Diversified Energy by 273.1% during the second quarter. CWM LLC now owns 1,787 shares of the company’s stock valued at $26,000 after purchasing an additional 1,308 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in shares of Diversified Energy in the 2nd quarter valued at $73,000. Federated Hermes Inc. bought a new position in shares of Diversified Energy in the 1st quarter valued at $108,000. Summit X LLC acquired a new position in shares of Diversified Energy during the 1st quarter worth $140,000. Finally, Purkiss Capital Advisors LLC bought a new stake in shares of Diversified Energy during the 2nd quarter worth $148,000. 26.51% of the stock is owned by institutional investors.

Diversified Energy Price Performance

Diversified Energy stock opened at $13.89 on Monday. The business has a 50 day moving average of $13.92 and a 200-day moving average of $14.28. The company has a market capitalization of $669.82 million, a P/E ratio of 9.45 and a beta of 0.62. Diversified Energy Company PLC has a 1 year low of $10.08 and a 1 year high of $17.70.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.16 annualized dividend and a dividend yield of 8.4%. Diversified Energy’s dividend payout ratio (DPR) is presently 55.10%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Diversified Energy in a research report on Wednesday, October 8th. Citigroup decreased 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. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Mizuho cut their target price on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Diversified Energy currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

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.