Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 2,350,000 shares, an increase of 119.6% from the June 30th total of 1,070,000 shares. Currently, 5.0% of the shares of the stock are sold short. Based on an average daily volume of 343,700 shares, the days-to-cover ratio is currently 6.8 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Royal London Asset Management Ltd. purchased a new position in Diversified Energy during the 4th quarter valued at about $25,000. Fund 1 Investments LLC purchased a new position in shares of Diversified Energy during the 4th quarter worth approximately $56,000. Susquehanna International Securities Ltd. acquired a new position in shares of Diversified Energy during the 1st quarter worth approximately $131,000. Virtu Financial LLC acquired a new position in shares of Diversified Energy during the 1st quarter worth approximately $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Diversified Energy in the 4th quarter valued at approximately $190,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Trading Up 2.1 %

Shares of NYSE:DEC traded up $0.34 during trading on Friday, hitting $16.32. 233,463 shares of the stock were exchanged, compared to its average volume of 642,866. 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 company has a fifty day moving average price of $14.62 and a two-hundred day moving average price of $13.43. Diversified Energy has a 12-month low of $10.54 and a 12-month high of $25.40.

Diversified Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 7.11%.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

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.