Short Interest in Diversified Energy Company PLC (NYSE:DEC) Grows By 119.6%

Diversified Energy Company PLC (NYSE:DEC) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 2,350,000 shares, an increase of 119.6% from the June 30th total of 1,070,000 shares. Currently, 5.0% of the company’s stock are short sold. Based on an average daily trading volume, of 343,700 shares, the days-to-cover ratio is presently 6.8 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Royal London Asset Management Ltd. acquired a new position in Diversified Energy during the fourth quarter worth $25,000. Fund 1 Investments LLC bought a new stake in shares of Diversified Energy during the 4th quarter worth about $56,000. Susquehanna International Securities Ltd. acquired a new position in shares of Diversified Energy during the 1st quarter valued at about $131,000. Virtu Financial LLC bought a new position in shares of Diversified Energy in the 1st quarter valued at approximately $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Diversified Energy in the 4th quarter worth approximately $190,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

Diversified Energy Stock Up 2.1 %

Shares of Diversified Energy stock traded up $0.34 during trading on Friday, hitting $16.32. 233,463 shares of the stock traded hands, compared to its average volume of 642,866. The company has a fifty day moving average price of $14.62 and a two-hundred day moving average price of $13.43. Diversified Energy has a twelve month low of $10.54 and a twelve month high of $25.40. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.83.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date is Friday, August 30th.

Wall Street Analysts Forecast Growth

Separately, Truist Financial boosted their price target on shares of Diversified Energy from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, July 22nd.

About Diversified Energy

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.