Citigroup Has Lowered Expectations for Diversified Energy (NYSE:DEC) Stock Price

Diversified Energy (NYSE:DEC) had its price objective dropped by analysts at Citigroup from $19.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 20.39% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Zacks Research cut shares of Diversified Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. KeyCorp upped their target price 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. Stephens initiated coverage on shares of Diversified Energy in a research note on Wednesday, April 15th. They set an “overweight” rating and a $24.00 target price for the company. Weiss Ratings downgraded shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, Truist Financial decreased their price target on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Diversified Energy presently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Diversified Energy Price Performance

NYSE DEC traded up $0.15 during trading hours on Tuesday, reaching $13.29. The company’s stock had a trading volume of 313,033 shares, compared to its average volume of 966,367. Diversified Energy has a 1 year low of $12.33 and a 1 year 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 company has a market capitalization of $961.13 million, a price-to-earnings ratio of 3.78 and a beta of -0.40. The firm’s 50-day moving average price is $14.16 and its 200-day moving average price is $14.47.

Institutional Investors Weigh In On Diversified Energy

Large investors have recently bought and sold shares of the business. Redhawk Wealth Advisors Inc. purchased a new stake in Diversified Energy during the second quarter valued at $259,000. Versant Capital Management Inc grew its stake in shares of Diversified Energy by 197.0% in the 2nd quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock worth $68,000 after buying an additional 3,256 shares in the last quarter. Southern Financial Group LLC bought a new stake in shares of Diversified Energy in the 1st quarter worth about $212,000. Optiver Holding B.V. bought a new stake in shares of Diversified Energy in the 1st quarter worth about $414,000. Finally, Bank of America Corp DE raised its position in shares of Diversified Energy by 57.8% during the 1st quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock valued at $5,312,000 after buying an additional 111,625 shares in the last quarter. Institutional investors own 26.51% of the company’s stock.

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.