Diversified Energy Company PLC (NYSE:DEC) Sees Large Growth in Short Interest

Diversified Energy Company PLC (NYSE:DEC) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,290,000 shares, a growth of 20.6% from the February 13th total of 1,070,000 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 397,300 shares, the short-interest ratio is presently 3.2 days.

Institutional Investors Weigh In On Diversified Energy

Institutional investors have recently bought and sold shares of the company. FMR LLC bought a new position in Diversified Energy during the 3rd quarter worth $31,000. Signaturefd LLC boosted its position in shares of Diversified Energy by 181.8% during the 4th quarter. Signaturefd LLC now owns 7,763 shares of the company’s stock worth $130,000 after purchasing an additional 5,008 shares in the last quarter. XTX Topco Ltd bought a new stake in Diversified Energy during the 3rd quarter valued at $163,000. Quantinno Capital Management LP bought a new position in shares of Diversified Energy in the third quarter valued at approximately $167,000. Finally, ProShare Advisors LLC purchased a new stake in Diversified Energy in the 4th quarter valued at about $222,000. Institutional investors own 26.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DEC. KeyCorp increased their price target on shares of Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial boosted their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, January 6th.

Diversified Energy Price Performance

Diversified Energy stock traded up $0.23 during mid-day trading on Wednesday, reaching $13.29. The company had a trading volume of 725,148 shares, compared to its average volume of 324,767. Diversified Energy has a 52 week low of $10.54 and a 52 week high of $17.70. The company has a 50 day moving average of $15.00 and a 200-day moving average of $14.08.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.73%.

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.