Truist Financial Begins Coverage on Diversified Energy (NYSE:DEC)

Analysts at Truist Financial began coverage on shares of Diversified Energy (NYSE:DEC) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $18.00 price target on the stock. Truist Financial’s price target suggests a potential upside of 37.09% from the company’s previous close.

Diversified Energy Stock Performance

Shares of NYSE DEC opened at $13.13 on Tuesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.48 and a quick ratio of 0.48. The business’s 50 day moving average price is $14.12. Diversified Energy has a 1 year low of $10.54 and a 1 year high of $26.00.

Institutional Trading of Diversified Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. M&G Investment Management Ltd. acquired a new stake in shares of Diversified Energy in the fourth quarter valued at $36,507,000. M&G Plc purchased a new stake in Diversified Energy during the first quarter worth about $20,639,000. Jupiter Asset Management Ltd. grew its holdings in shares of Diversified Energy by 838.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,484,083 shares of the company’s stock valued at $17,773,000 after purchasing an additional 1,325,948 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Diversified Energy during the 4th quarter worth approximately $16,390,000. Finally, UBS Group AG acquired a new stake in Diversified Energy during the 4th quarter worth approximately $15,871,000. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

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.