Diversified Energy (NYSE:DEC) Shares Gap Up – Time to Buy?

Diversified Energy Company PLC (NYSE:DEC)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $14.80, but opened at $15.50. Diversified Energy shares last traded at $15.0390, with a volume of 84,399 shares.

Analysts Set New Price Targets

DEC has been the topic of a number of research reports. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Mizuho dropped their price target on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Diversified Energy in a research report on Wednesday, October 8th. Citigroup raised their target price on Diversified Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, William Blair assumed coverage on Diversified Energy in a report on Tuesday, November 18th. They set an “outperform” rating for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Diversified Energy presently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Diversified Energy Trading Up 0.6%

The company has a market cap of $717.81 million, a PE ratio of 10.13 and a beta of 0.62. The business’s 50 day moving average is $13.76 and its two-hundred day moving average is $14.44.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.8%. Diversified Energy’s dividend payout ratio is 55.10%.

Institutional Trading of Diversified Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Diversified Energy in the 1st quarter worth approximately $283,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Diversified Energy by 29.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,264 shares of the company’s stock valued at $232,000 after acquiring an additional 3,911 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Diversified Energy by 78.7% in the 1st quarter. Mackenzie Financial Corp now owns 180,138 shares of the company’s stock worth $2,430,000 after purchasing an additional 79,341 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Diversified Energy during the 1st quarter valued at about $108,000. Finally, Jupiter Asset Management Ltd. grew its position in shares of Diversified Energy by 5.2% during the first quarter. Jupiter Asset Management Ltd. now owns 2,892,480 shares of the company’s stock valued at $38,940,000 after purchasing an additional 141,691 shares in 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.