Zacks Research Upgrades Diversified Energy (NYSE:DEC) to Strong-Buy

Diversified Energy (NYSE:DEC) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Diversified Energy to a “hold” rating in a research note on Friday, July 10th. Truist Financial raised their price objective on Diversified Energy from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings upgraded Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Citigroup cut their target price on Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Finally, Mizuho set a $32.00 target price on Diversified Energy in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Diversified Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Diversified Energy Stock Up 5.3%

Shares of NYSE:DEC opened at $14.91 on Monday. The firm has a 50 day simple moving average of $14.37 and a 200-day simple moving average of $14.62. Diversified Energy has a twelve month low of $12.33 and a twelve month high of $18.90. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.96. The company has a market capitalization of $1.06 billion, a PE ratio of 4.62 and a beta of -0.28.

Diversified Energy (NYSE:DEC) last posted its earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The company had revenue of $442.30 million for the quarter, compared to analysts’ expectations of $492.98 million. On average, equities analysts predict that Diversified Energy will post 2.82 EPS for the current fiscal year.

Institutional Trading of Diversified Energy

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Diversified Energy by 443.1% during the third quarter. GAMMA Investing LLC now owns 1,917 shares of the company’s stock worth $26,000 after buying an additional 1,564 shares during the period. Artemis Investment Management LLP grew its holdings in shares of Diversified Energy by 8.3% during the third quarter. Artemis Investment Management LLP now owns 6,148,058 shares of the company’s stock worth $82,383,000 after buying an additional 470,823 shares during the last quarter. Tidal Investments LLC acquired a new position in Diversified Energy in the 2nd quarter valued at about $988,000. Arizona State Retirement System increased its position in Diversified Energy by 6.9% in the 2nd quarter. Arizona State Retirement System now owns 19,483 shares of the company’s stock valued at $270,000 after acquiring an additional 1,261 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Diversified Energy during the 2nd quarter valued at approximately $26,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

About Diversified Energy

Diversified Energy Company plc is an independent energy company that owns and operates a portfolio of mature, producing oil and natural gas wells in the United States. The company focuses on acquiring long-life conventional assets and managing them through their full operating lifecycle, with activities spanning production, maintenance, infrastructure management and well retirement.

The company’s operations are concentrated in established U.S. onshore producing regions, including the Appalachian, Central and Rockies areas.