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

Diversified Energy Company PLC (NYSE:DEC) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 1,660,000 shares, a drop of 7.8% from the November 15th total of 1,800,000 shares. Based on an average trading volume of 271,800 shares, the days-to-cover ratio is currently 6.1 days. Approximately 3.7% of the shares of the stock are short sold.

Hedge Funds Weigh In On Diversified Energy

A number of hedge funds have recently bought and sold shares of DEC. Signaturefd LLC acquired a new stake in shares of Diversified Energy during the 3rd quarter worth approximately $31,000. FMR LLC acquired a new stake in Diversified Energy in the third quarter worth $31,000. Ballentine Partners LLC bought a new stake in Diversified Energy in the third quarter valued at $143,000. XTX Topco Ltd bought a new stake in Diversified Energy in the third quarter valued at $163,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Diversified Energy during the third quarter valued at about $167,000. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Price Performance

Shares of DEC traded down $0.73 during mid-day trading on Monday, reaching $16.13. 94,400 shares of the company were exchanged, compared to its average volume of 266,746. The business has a 50 day simple moving average of $13.77 and a two-hundred day simple moving average of $13.62. Diversified Energy has a 52 week low of $10.54 and a 52 week high of $18.05.

Diversified Energy Dividend Announcement

The company 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date is Friday, February 28th.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DEC. KeyCorp assumed coverage on Diversified Energy in a research note on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 price objective for the company. Truist Financial lifted their price target on shares of Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, November 18th.

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.