Citigroup Cuts Diversified Energy (NYSE:DEC) Price Target to $16.00

Diversified Energy (NYSE:DEC) had its price objective cut by Citigroup from $19.00 to $16.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on DEC. Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Mizuho decreased their price target on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Diversified Energy in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Diversified Energy Price Performance

DEC stock opened at $12.80 on Monday. The stock has a 50-day moving average price of $14.60 and a 200-day moving average price of $14.08. Diversified Energy has a 1-year low of $10.08 and a 1-year high of $17.70.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date is Monday, December 1st.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Artemis Investment Management LLP lifted its stake in Diversified Energy by 15.8% during the 1st quarter. Artemis Investment Management LLP now owns 412,027 shares of the company’s stock valued at $5,571,000 after acquiring an additional 56,117 shares in the last quarter. Mraz Amerine & Associates Inc. boosted its stake in shares of Diversified Energy by 16.6% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 132,341 shares of the company’s stock worth $1,779,000 after buying an additional 18,846 shares during the last quarter. Summit X LLC purchased a new position in shares of Diversified Energy in the 1st quarter worth approximately $140,000. Bailard Inc. bought a new position in shares of Diversified Energy in the first quarter valued at approximately $285,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Diversified Energy during the first quarter valued at approximately $283,000. Institutional investors own 26.51% of the company’s stock.

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.