Diversified Energy (NYSE:DEC) Sees Large Volume Increase – Still a Buy?

Diversified Energy Company PLC (NYSE:DEC) saw unusually-strong trading volume on Thursday . Approximately 1,520,081 shares changed hands during trading, an increase of 438% from the previous session’s volume of 282,635 shares.The stock last traded at $14.51 and had previously closed at $15.01.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DEC. Truist Financial increased their price objective on shares of Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a report on Monday, January 6th. KeyCorp raised their target price on shares of Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th.

Diversified Energy Trading Down 2.5 %

The firm’s 50-day moving average is $16.26 and its two-hundred day moving average is $14.15.

Hedge Funds Weigh In On Diversified Energy

A number of institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp raised its position in shares of Diversified Energy by 11.7% in the fourth quarter. Mackenzie Financial Corp now owns 100,797 shares of the company’s stock valued at $1,693,000 after purchasing an additional 10,594 shares during the period. Woodline Partners LP acquired a new stake in shares of Diversified Energy in the fourth quarter worth $6,274,000. Thomist Capital Management LP acquired a new stake in shares of Diversified Energy in the fourth quarter worth $547,000. ProShare Advisors LLC acquired a new stake in shares of Diversified Energy in the fourth quarter worth $222,000. Finally, Quantinno Capital Management LP boosted its stake in Diversified Energy by 197.4% during the fourth quarter. Quantinno Capital Management LP now owns 43,815 shares of the company’s stock worth $736,000 after buying an additional 29,084 shares in the last quarter. Institutional investors own 26.51% of the company’s stock.

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.