Diversified Energy Company PLC (NYSE:DEC) Short Interest Down 27.8% in March

Diversified Energy Company PLC (NYSE:DEC) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 931,000 shares, a decrease of 27.8% from the February 28th total of 1,290,000 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily volume of 445,600 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Diversified Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Diversified Energy by 166.9% in the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after acquiring an additional 322,986 shares during the last quarter. PDT Partners LLC increased its position in Diversified Energy by 231.4% during the 3rd quarter. PDT Partners LLC now owns 45,386 shares of the company’s stock worth $516,000 after purchasing an additional 31,690 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Diversified Energy in the 4th quarter valued at about $5,979,000. Proficio Capital Partners LLC purchased a new position in Diversified Energy in the 4th quarter valued at about $352,000. Finally, State Street Corp boosted its stake in shares of Diversified Energy by 42.4% during the 3rd quarter. State Street Corp now owns 552,844 shares of the company’s stock worth $6,291,000 after purchasing an additional 164,728 shares during the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

Diversified Energy Stock Down 0.1 %

Diversified Energy stock traded down $0.01 during trading hours on Friday, hitting $13.41. The stock had a trading volume of 412,144 shares, compared to its average volume of 334,028. Diversified Energy has a 1-year low of $10.72 and a 1-year high of $17.70. The stock’s fifty day moving average is $14.50 and its two-hundred day moving average is $14.17.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 8.65%.

Diversified Energy Company Profile

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.