Diversified Energy Company PLC (NYSE:DEC) Given Average Rating of “Moderate Buy” by Brokerages

Diversified Energy Company PLC (NYSE:DEC) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $21.1667.

Several research firms have issued reports on DEC. Weiss Ratings cut Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. KeyCorp increased their price target on Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Jefferies Financial Group raised Diversified Energy to a “hold” rating in a research report on Friday, July 10th. Truist Financial reduced their price objective on shares of Diversified Energy from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Finally, Zacks Research lowered shares of Diversified Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th.

Hedge Funds Weigh In On Diversified Energy

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP raised its position in Diversified Energy by 1,595.2% in the third quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after purchasing an additional 1,994 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Diversified Energy during the fourth quarter worth $32,000. Ensign Peak Advisors Inc purchased a new position in shares of Diversified Energy during the fourth quarter worth $35,000. Versant Capital Management Inc grew its stake in shares of Diversified Energy by 197.0% in the second quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock valued at $68,000 after buying an additional 3,256 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Diversified Energy by 261.3% in the second 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 in the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Trading Up 4.4%

DEC opened at $13.05 on Thursday. Diversified Energy has a one year low of $12.33 and a one year high of $18.90. The stock has a market capitalization of $944.14 million, a PE ratio of 3.71 and a beta of -0.40. The business’s 50 day moving average price is $13.72 and its 200 day moving average price is $14.42. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.47 and a current ratio of 0.47.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, August 28th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Friday, August 28th. Diversified Energy’s dividend payout ratio is currently 32.95%.

About Diversified Energy

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.