Jupiter Asset Management Ltd. Grows Position in Diversified Energy Company PLC $DEC

Jupiter Asset Management Ltd. grew its position in shares of Diversified Energy Company PLC (NYSE:DEC) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,926,886 shares of the company’s stock after acquiring an additional 34,406 shares during the quarter. Jupiter Asset Management Ltd. owned 6.07% of Diversified Energy worth $43,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in DEC. CWM LLC boosted its holdings in Diversified Energy by 273.1% during the second quarter. CWM LLC now owns 1,787 shares of the company’s stock worth $26,000 after purchasing an additional 1,308 shares during the last quarter. Allworth Financial LP lifted its position in shares of Diversified Energy by 10,143.9% during the 2nd quarter. Allworth Financial LP now owns 4,200 shares of the company’s stock worth $62,000 after buying an additional 4,159 shares in the last quarter. Oakworth Capital Inc. purchased a new position in shares of Diversified Energy in the 2nd quarter worth approximately $73,000. Federated Hermes Inc. bought a new position in shares of Diversified Energy in the first quarter valued at approximately $108,000. Finally, Summit X LLC purchased a new stake in shares of Diversified Energy during the first quarter valued at approximately $140,000. 26.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DEC shares. Mizuho lowered their target price on Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Wall Street Zen lowered shares of Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. 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 research report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a report on Wednesday, October 8th. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Diversified Energy Price Performance

Shares of DEC opened at $14.66 on Wednesday. Diversified Energy Company PLC has a 1-year low of $10.08 and a 1-year high of $17.70. The company has a market capitalization of $706.91 million, a P/E ratio of 9.97 and a beta of 0.62. The firm’s 50 day simple moving average is $13.85 and its 200 day simple moving average is $14.31.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, February 27th. This represents a $1.16 annualized dividend and a dividend yield of 7.9%. Diversified Energy’s dividend payout ratio (DPR) is 55.10%.

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.