Diversified Energy (NYSE:DEC) Shares Gap Up – What’s Next?

Diversified Energy Company PLC (NYSE:DEC) shares gapped up before the market opened on Tuesday . The stock had previously closed at $11.61, but opened at $11.87. Diversified Energy shares last traded at $11.90, with a volume of 58,405 shares traded.

Analyst Ratings Changes

DEC has been the subject of several recent research reports. Truist Financial cut their price target on Diversified Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, September 30th. KeyCorp started coverage on shares of Diversified Energy in a report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 target price for the company.

Diversified Energy Trading Down 1.1 %

The company has a fifty day moving average of $11.83 and a two-hundred day moving average of $13.49.

Diversified Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 9.98%. The ex-dividend date of this dividend is Friday, November 29th.

Institutional Investors Weigh In On Diversified Energy

Several hedge funds have recently added to or reduced their stakes in the business. Ballentine Partners LLC acquired a new position in Diversified Energy in the 3rd quarter valued at approximately $143,000. Mraz Amerine & Associates Inc. increased its holdings in Diversified Energy by 8.4% in the third quarter. Mraz Amerine & Associates Inc. now owns 117,366 shares of the company’s stock valued at $1,336,000 after purchasing an additional 9,087 shares during the period. Signaturefd LLC acquired a new stake in Diversified Energy in the third quarter valued at $31,000. Creative Planning bought a new position in Diversified Energy during the 3rd quarter worth $350,000. Finally, SG Americas Securities LLC acquired a new position in Diversified Energy during the 3rd quarter worth about $176,000. 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.