Diversified Energy (NYSE:DEC) Shares Down 4.8% – What’s Next?

Diversified Energy Company PLC (NYSE:DEC)’s stock price fell 4.8% during mid-day trading on Monday . The company traded as low as $16.04 and last traded at $16.05. 91,614 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 266,722 shares. The stock had previously closed at $16.86.

Wall Street Analyst Weigh In

DEC has been the subject of several analyst reports. Truist Financial boosted their target price 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. KeyCorp started coverage on shares of Diversified Energy in a research note on Wednesday, August 28th. They set an “overweight” rating and a $18.00 target price on the stock.

Diversified Energy Price Performance

The stock has a 50-day moving average price of $13.93 and a 200 day moving average price of $13.62.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend is Friday, February 28th.

Institutional Investors Weigh In On Diversified Energy

Institutional investors have recently bought and sold shares of the company. M&G PLC lifted its position in shares of Diversified Energy by 5.1% in the third quarter. M&G PLC now owns 1,803,398 shares of the company’s stock valued at $20,523,000 after acquiring an additional 87,775 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Diversified Energy by 77.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after purchasing an additional 1,150,794 shares in the last quarter. Empowered Funds LLC acquired a new stake in Diversified Energy during the 3rd quarter worth $1,486,000. PDT Partners LLC raised its position in shares of Diversified Energy by 231.4% in the third quarter. PDT Partners LLC now owns 45,386 shares of the company’s stock valued at $516,000 after buying an additional 31,690 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Diversified Energy in the second quarter worth about $820,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.

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.