Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 986,800 shares, a decrease of 6.9% from the May 31st total of 1,060,000 shares. Based on an average daily volume of 203,400 shares, the short-interest ratio is presently 4.9 days. Currently, 2.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Truist Financial initiated coverage on shares of Diversified Energy in a report on Tuesday, June 25th. They set a “buy” rating and a $18.00 price target for the company.

Institutional Trading of Diversified Energy

Institutional investors have recently modified their holdings of the business. M&G Investment Management Ltd. bought a new stake in shares of Diversified Energy in the 4th quarter valued at about $36,507,000. M&G Plc bought a new position in Diversified Energy during the 1st quarter worth approximately $20,639,000. Jupiter Asset Management Ltd. lifted its position in shares of Diversified Energy by 838.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,484,083 shares of the company’s stock worth $17,773,000 after purchasing an additional 1,325,948 shares during the period. Allianz Asset Management GmbH bought a new stake in shares of Diversified Energy in the 4th quarter valued at $16,390,000. Finally, UBS Group AG acquired a new stake in shares of Diversified Energy during the fourth quarter worth $15,871,000. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Performance

Shares of Diversified Energy stock traded down $0.14 on Wednesday, hitting $13.99. The stock had a trading volume of 233,228 shares, compared to its average volume of 254,961. The company has a 50 day moving average of $14.09. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.48 and a quick ratio of 0.48. Diversified Energy has a twelve month low of $10.54 and a twelve month high of $26.00.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.29%.

Diversified Energy Company Profile

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.