Diversified Energy Company PLC (NYSE:DEC) Stock Has Average Price Target of $22.00

Shares of Diversified Energy Company PLC (NYSE:DEC) have earned an average rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $22.00.

A number of brokerages have recently weighed in on DEC. Zacks Research upgraded shares of Diversified Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. Citigroup reduced their price target on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Truist Financial boosted their target price on Diversified Energy from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Jefferies Financial Group upgraded Diversified Energy to a “hold” rating in a research report on Friday, July 10th. Finally, Mizuho lowered their price target on shares of Diversified Energy from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, October 16th.

Institutional Trading of Diversified Energy

Several institutional investors have recently made changes to their positions in DEC. Artemis Investment Management LLP lifted its position in Diversified Energy by 8.3% in the 3rd quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company’s stock valued at $82,383,000 after acquiring an additional 470,823 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Diversified Energy by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 617,728 shares of the company’s stock worth $10,773,000 after purchasing an additional 26,978 shares in the last quarter. First Trust Advisors LP purchased a new stake in Diversified Energy during the first quarter valued at about $10,546,000. Bank of America Corp DE lifted its position in shares of Diversified Energy by 57.8% in the 1st quarter. Bank of America Corp DE now owns 304,613 shares of the company’s stock worth $5,312,000 after purchasing an additional 111,625 shares during the period. Finally, Walleye Capital LLC grew its holdings in shares of Diversified Energy by 275.1% during the first quarter. Walleye Capital LLC now owns 230,694 shares of the company’s stock valued at $4,023,000 after buying an additional 169,198 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors and hedge funds.

Diversified Energy Trading Down 0.6%

DEC opened at $12.72 on Friday. The business’s 50 day moving average price is $14.28 and its 200 day moving average price is $14.42. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.57 and a current ratio of 0.57. Diversified Energy has a one year low of $12.35 and a one year high of $18.90. The stock has a market capitalization of $899.98 million, a PE ratio of 3.94 and a beta of -0.32.

Diversified Energy (NYSE:DEC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The company had revenue of $442.30 million for the quarter, compared to analysts’ expectations of $492.98 million. As a group, equities research analysts expect that Diversified Energy will post 2.78 EPS for the current year.

Diversified Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Friday, February 26th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend is Friday, February 26th. Diversified Energy’s dividend payout ratio is currently 35.91%.

About Diversified Energy

Diversified Energy Company plc is an independent energy company focused on acquiring, operating and managing mature onshore oil and natural gas assets in the United States. Its portfolio includes producing wells, gathering systems and related infrastructure, with an emphasis on extending the productive life of existing assets through operational improvements and disciplined asset management.

The company’s operations are concentrated in several U.S. regions, including the Appalachian, Central and Rocky Mountain areas.