Diversified Energy (NYSE:DEC) Shares Down 3.8% – Here’s What Happened

Diversified Energy Company PLC (NYSE:DEC)’s stock price fell 3.8% on Wednesday . The company traded as low as $11.95 and last traded at $12.03. 572,193 shares changed hands during trading, an increase of 89% from the average session volume of 302,896 shares. The stock had previously closed at $12.51.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DEC shares. KeyCorp boosted their price objective on shares of Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Truist Financial raised their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, January 6th.

Diversified Energy Price Performance

The business has a fifty day simple moving average of $15.96 and a two-hundred day simple moving average of $14.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC bought a new position in Diversified Energy in the 3rd quarter worth $31,000. Signaturefd LLC raised its stake in shares of Diversified Energy by 181.8% in the fourth quarter. Signaturefd LLC now owns 7,763 shares of the company’s stock worth $130,000 after buying an additional 5,008 shares during the period. XTX Topco Ltd purchased a new position in shares of Diversified Energy during the 3rd quarter valued at about $163,000. Quantinno Capital Management LP bought a new position in shares of Diversified Energy during the 3rd quarter valued at approximately $167,000. Finally, ProShare Advisors LLC purchased a new stake in Diversified Energy in the 4th quarter worth approximately $222,000. 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.