Jupiter Asset Management Ltd. Makes New Investment in Diversified Energy Company PLC $DEC

Jupiter Asset Management Ltd. acquired a new stake in Diversified Energy Company PLC (NYSE:DEC) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,204,477 shares of the company’s stock, valued at approximately $46,334,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP increased its stake in shares of Diversified Energy by 1,595.2% in the third quarter. Quarry LP now owns 2,119 shares of the company’s stock worth $30,000 after buying an additional 1,994 shares during the period. Tower Research Capital LLC TRC boosted its position in Diversified Energy by 261.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock valued at $74,000 after buying an additional 3,666 shares during the period. Guinness Asset Management LTD bought a new stake in Diversified Energy in the 3rd quarter worth $106,000. SG Americas Securities LLC bought a new stake in Diversified Energy in the 4th quarter worth $111,000. Finally, Massar Capital Management LP purchased a new position in shares of Diversified Energy in the second quarter valued at about $152,000. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Performance

Shares of DEC opened at $14.84 on Friday. The company has a 50-day simple moving average of $16.14 and a two-hundred day simple moving average of $14.76. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $1.07 billion, a PE ratio of 10.09 and a beta of -0.34. Diversified Energy Company PLC 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. Investors of record on Friday, August 28th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 7.8%. Diversified Energy’s payout ratio is currently 78.91%.

Wall Street Analysts Forecast Growth

DEC has been the subject of a number of analyst reports. KeyCorp increased their target price on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Citigroup upped their price target on Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Wall Street Zen lowered Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Truist Financial reduced their target price on Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Finally, Zacks Research raised Diversified Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $21.83.

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.