Diversified Energy (NYSE:DEC) Shares Gap Down – Should You Sell?

Diversified Energy Company PLC (NYSE:DEC) shares gapped down before the market opened on Wednesday . The stock had previously closed at $13.06, but opened at $12.77. Diversified Energy shares last traded at $12.80, with a volume of 24,668 shares.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DEC. KeyCorp lifted 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 lifted their price objective on Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, January 6th.

Diversified Energy Stock Up 0.5 %

The stock’s 50 day moving average is $15.00 and its 200 day moving average is $14.08.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.84%.

Institutional Investors Weigh In On Diversified Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DEC. Invesco Ltd. lifted its position in shares of Diversified Energy by 1.7% in the fourth quarter. Invesco Ltd. now owns 39,195 shares of the company’s stock valued at $658,000 after acquiring an additional 638 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Diversified Energy by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,748 shares of the company’s stock valued at $449,000 after purchasing an additional 934 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Diversified Energy by 4.1% in the 4th quarter. Wells Fargo & Company MN now owns 27,287 shares of the company’s stock valued at $458,000 after purchasing an additional 1,085 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Diversified Energy by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 29,267 shares of the company’s stock worth $492,000 after purchasing an additional 1,597 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Diversified Energy by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock worth $1,291,000 after buying an additional 1,910 shares in 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.