Diversified Energy (NYSE:DEC) Shares Gap Up to $12.80

Diversified Energy Company PLC (NYSE:DEC)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $12.80, but opened at $13.18. Diversified Energy shares last traded at $13.18, with a volume of 20,793 shares trading hands.

Wall Street Analyst Weigh In

Separately, Truist Financial raised their price target 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 Price Performance

The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.83. The stock has a 50 day moving average price of $14.54 and a 200 day moving average price of $13.59.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.16 annualized dividend and a yield of 8.82%.

Institutional Inflows and Outflows

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

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.