Diversified Energy (NYSE:DEC) Price Target Raised to $27.00

Diversified Energy (NYSE:DEC) had its price target hoisted by Truist Financial from $21.00 to $27.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Diversified Energy Stock Performance

NYSE DEC opened at $16.60 on Monday. The company has a 50-day simple moving average of $15.36 and a two-hundred day simple moving average of $13.85. Diversified Energy has a 12-month low of $10.54 and a 12-month high of $17.70.

Diversified Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.29 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a yield of 6.99%.

Institutional Trading of Diversified Energy

A number of institutional investors have recently made changes to their positions in DEC. M&G PLC raised its holdings in Diversified Energy by 5.1% during the 3rd quarter. M&G PLC now owns 1,803,398 shares of the company’s stock valued at $20,523,000 after buying an additional 87,775 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Diversified Energy by 77.5% in the second quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after acquiring an additional 1,150,794 shares during the period. Barclays PLC raised its stake in shares of Diversified Energy by 166.9% during the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock valued at $5,876,000 after acquiring an additional 322,986 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Diversified Energy during the third quarter worth about $1,486,000. Finally, PDT Partners LLC grew its stake 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 worth $516,000 after purchasing an additional 31,690 shares during the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

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.