Diversified Energy Company PLC (NYSE:DEC) Given Average Recommendation of “Moderate Buy” by Analysts

Diversified Energy Company PLC (NYSE:DEC) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com 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 analysts that have issued ratings on the stock in the last year is $21.8333.

Several research firms have weighed in on DEC. KeyCorp increased their price target on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Zacks Research downgraded Diversified Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings downgraded Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Truist Financial cut their price target on Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Finally, Stephens started coverage on Diversified Energy in a research note on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price objective on the stock.

Hedge Funds Weigh In On Diversified Energy

A number of hedge funds have recently modified their holdings of DEC. EIG Asset Management LLC purchased a new stake in Diversified Energy in the 4th quarter worth $139,031,000. Ameriprise Financial Inc. purchased a new stake in shares of Diversified Energy during the second quarter worth about $53,894,000. Jupiter Asset Management Ltd. bought a new stake in Diversified Energy during the 4th quarter valued at approximately $46,334,000. Man Group plc bought a new stake in Diversified Energy during the 4th quarter valued at approximately $27,463,000. Finally, Artemis Investment Management LLP lifted its holdings in Diversified Energy by 114.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock worth $37,555,000 after purchasing an additional 1,384,073 shares in the last quarter. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Price Performance

NYSE DEC opened at $13.70 on Friday. The company has a 50-day moving average price of $14.51 and a 200-day moving average price of $14.52. Diversified Energy has a 52 week low of $12.33 and a 52 week high of $18.90. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.57. The firm has a market capitalization of $990.64 million, a P/E ratio of 3.89 and a beta of -0.40.

Diversified Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 8.5%. Diversified Energy’s dividend payout ratio (DPR) is presently 32.95%.

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.