Diversified Energy (NYSE:DEC) Shares Up 3.9% – Should You Buy?

Shares of Diversified Energy Company PLC (NYSE:DEC) shot up 3.9% during mid-day trading on Thursday . The company traded as high as $13.83 and last traded at $13.80. 303,598 shares were traded during trading, a decline of 37% from the average session volume of 479,124 shares. The stock had previously closed at $13.28.

Analyst Ratings Changes

DEC has been the subject of a number of research analyst reports. KeyCorp boosted their target price on Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial lifted their price target on shares of Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 6th.

Diversified Energy Trading Up 3.4 %

The company has a 50-day moving average of $14.93 and a 200-day moving average of $14.07.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date of this dividend is Friday, May 30th.

Institutional Trading of Diversified Energy

A number of hedge funds have recently bought and sold shares of DEC. Barclays PLC boosted its stake in Diversified Energy by 166.9% in the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock valued at $5,876,000 after acquiring an additional 322,986 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Diversified Energy during the third quarter worth $1,486,000. PDT Partners LLC boosted its stake in Diversified Energy by 231.4% in the 3rd quarter. PDT Partners LLC now owns 45,386 shares of the company’s stock worth $516,000 after purchasing an additional 31,690 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Diversified Energy in the fourth quarter worth about $5,979,000. Finally, State Street Corp boosted its position in shares of Diversified Energy by 42.4% in the third quarter. State Street Corp now owns 552,844 shares of the company’s stock valued at $6,291,000 after acquiring an additional 164,728 shares during the period. 26.51% of the stock is currently owned by institutional investors.

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.