Diversified Energy (NYSE:DEC) Shares Gap Up – Here’s Why

Diversified Energy Company PLC (NYSE:DEC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $15.94, but opened at $16.38. Diversified Energy shares last traded at $16.45, with a volume of 30,389 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on DEC shares. Truist Financial upped their price target 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. KeyCorp upped their price target 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.

Diversified Energy Stock Up 3.7 %

The stock’s 50 day moving average price is $16.23 and its two-hundred day moving average price is $14.07.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.02%.

Institutional Trading of Diversified Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DEC. M&G PLC boosted its holdings in Diversified Energy by 5.1% during the third quarter. M&G PLC now owns 1,803,398 shares of the company’s stock worth $20,523,000 after buying an additional 87,775 shares in the last quarter. Barclays PLC boosted its holdings in Diversified Energy by 166.9% during the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after buying an additional 322,986 shares in the last quarter. Empowered Funds LLC purchased a new stake in Diversified Energy during the third quarter worth $1,486,000. PDT Partners LLC boosted its holdings in Diversified Energy by 231.4% during the third quarter. PDT Partners LLC now owns 45,386 shares of the company’s stock worth $516,000 after buying an additional 31,690 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in Diversified Energy during the fourth quarter worth $5,979,000. Institutional investors and hedge funds 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.