Brokerages Set Diversified Energy Company PLC (NYSE:DEC) Price Target at $21.83

Shares of Diversified Energy Company PLC (NYSE:DEC) have received an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $21.8333.

A number of equities analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Truist Financial lowered their target price on Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Citigroup increased their target price on Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Stephens assumed coverage on Diversified Energy in a report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price target on the stock. Finally, Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Diversified Energy by 57.8% in the 1st quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock worth $5,312,000 after purchasing an additional 111,625 shares in the last quarter. Janus Henderson Group PLC increased its position in Diversified Energy by 123.1% during the 1st quarter. Janus Henderson Group PLC now owns 29,000 shares of the company’s stock valued at $505,000 after buying an additional 16,000 shares in the last quarter. California State Teachers Retirement System raised its stake in Diversified Energy by 1,504.4% in the first quarter. California State Teachers Retirement System now owns 61,385 shares of the company’s stock valued at $1,071,000 after buying an additional 57,559 shares during the last quarter. Royal Bank of Canada raised its stake in Diversified Energy by 0.5% in the first quarter. Royal Bank of Canada now owns 140,160 shares of the company’s stock valued at $2,445,000 after buying an additional 748 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Diversified Energy by 18.7% in the first quarter. Quantinno Capital Management LP now owns 66,093 shares of the company’s stock worth $1,153,000 after acquiring an additional 10,414 shares in the last quarter. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Trading Down 1.7%

NYSE DEC opened at $15.49 on Friday. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.54 and a beta of -0.34. The company’s 50-day simple moving average is $16.09 and its two-hundred day simple moving average is $14.71. Diversified Energy has a one year low of $12.33 and a one year high of $18.90.

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 28th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Friday, August 28th. Diversified Energy’s dividend payout ratio is presently 78.91%.

Diversified Energy Company Profile

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.