Diversified Energy Company PLC (NYSE:DEC) Short Interest Down 7.8% in November

Diversified Energy Company PLC (NYSE:DEC) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,660,000 shares, a decline of 7.8% from the November 15th total of 1,800,000 shares. Based on an average trading volume of 271,800 shares, the days-to-cover ratio is presently 6.1 days. Currently, 3.7% of the shares of the company are sold short.

Institutional Trading of Diversified Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Diversified Energy by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock valued at $1,291,000 after buying an additional 1,910 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its holdings in Diversified Energy by 1.9% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 108,279 shares of the company’s stock valued at $1,461,000 after acquiring an additional 2,044 shares during the last quarter. Signaturefd LLC acquired a new position in shares of Diversified Energy in the 3rd quarter worth approximately $31,000. FMR LLC bought a new stake in shares of Diversified Energy in the 3rd quarter worth approximately $31,000. Finally, Brighton Jones LLC lifted its stake in Diversified Energy by 28.2% during the second quarter. Brighton Jones LLC now owns 25,034 shares of the company’s stock valued at $338,000 after purchasing an additional 5,501 shares during the last quarter. Institutional investors own 26.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. KeyCorp initiated coverage on Diversified Energy in a research report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 target price on the stock. Truist Financial lifted their price objective on shares of Diversified Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, November 18th.

Diversified Energy Trading Down 1.8 %

Shares of Diversified Energy stock traded down $0.29 on Tuesday, hitting $15.66. The company had a trading volume of 156,439 shares, compared to its average volume of 266,857. Diversified Energy has a 52 week low of $10.54 and a 52 week high of $18.05. The business has a 50-day simple moving average of $13.85 and a 200-day simple moving average of $13.62.

Diversified Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.41%. The ex-dividend date is Friday, February 28th.

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.