Citigroup Issues Positive Forecast for Diversified Energy (NYSE:DEC) Stock Price

Diversified Energy (NYSE:DEC) had its price objective raised by equities research analysts at Citigroup from $16.00 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 14.98% from the stock’s previous close.

A number of other research firms have also recently weighed in on DEC. Mizuho lowered their price target on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Wall Street Zen cut shares of Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Diversified Energy in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Diversified Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Diversified Energy Stock Performance

DEC stock traded up $0.07 during trading on Thursday, reaching $14.79. 313,035 shares of the company traded hands, compared to its average volume of 447,070. The business has a 50 day simple moving average of $13.83 and a 200 day simple moving average of $14.31. Diversified Energy has a 12 month low of $10.08 and a 12 month high of $17.70. The company has a market capitalization of $712.93 million, a price-to-earnings ratio of 10.04 and a beta of 0.62.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Callan Family Office LLC boosted its position in Diversified Energy by 5.8% in the 2nd quarter. Callan Family Office LLC now owns 15,639 shares of the company’s stock worth $229,000 after purchasing an additional 861 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Diversified Energy by 8.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 11,500 shares of the company’s stock valued at $161,000 after purchasing an additional 863 shares during the period. ProShare Advisors LLC grew its position in Diversified Energy by 10.9% during the second quarter. ProShare Advisors LLC now owns 11,278 shares of the company’s stock valued at $165,000 after buying an additional 1,105 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Diversified Energy by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock valued at $377,000 after buying an additional 1,170 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in Diversified Energy by 5.6% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 23,575 shares of the company’s stock valued at $330,000 after buying an additional 1,249 shares during the period. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

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.