Legal & General Group Plc Sells 617,769 Shares of Diversified Energy Company PLC $DEC

Legal & General Group Plc lessened its holdings in shares of Diversified Energy Company PLC (NYSE:DEC) by 67.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,993 shares of the company’s stock after selling 617,769 shares during the quarter. Legal & General Group Plc owned 0.63% of Diversified Energy worth $4,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ameriprise Financial Inc. increased its stake in Diversified Energy by 11.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock valued at $57,567,000 after purchasing an additional 435,222 shares in the last quarter. Artemis Investment Management LLP increased its stake in Diversified Energy by 114.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock valued at $37,555,000 after purchasing an additional 1,384,073 shares in the last quarter. Citadel Advisors LLC increased its stake in Diversified Energy by 47.6% during the 3rd quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock valued at $33,333,000 after purchasing an additional 767,378 shares in the last quarter. Tejara Capital Ltd increased its stake in Diversified Energy by 2.8% during the 4th quarter. Tejara Capital Ltd now owns 2,007,882 shares of the company’s stock valued at $29,074,000 after purchasing an additional 54,976 shares in the last quarter. Finally, M&G PLC increased its stake in Diversified Energy by 11.7% during the 3rd quarter. M&G PLC now owns 1,915,325 shares of the company’s stock valued at $26,765,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Performance

NYSE DEC opened at $13.89 on Tuesday. Diversified Energy Company PLC has a 1 year low of $12.33 and a 1 year high of $18.90. 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 cap of $1.00 billion, a price-to-earnings ratio of 3.94 and a beta of -0.45. The company has a fifty day moving average price of $15.83 and a 200-day moving average price of $14.72.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, August 28th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 8.4%. Diversified Energy’s dividend payout ratio is presently 32.95%.

Analyst Ratings Changes

A number of analysts have commented on DEC shares. Stephens started coverage on shares of Diversified Energy in a research note on Wednesday, April 15th. They set an “overweight” rating and a $24.00 price target for the company. Zacks Research upgraded shares of Diversified Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 25th. Truist Financial decreased their price target on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Citigroup upped their target price on shares of Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings lowered shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Diversified Energy currently has a consensus rating of “Buy” and a consensus price target 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.