Diversified Energy Company PLC (NYSE:DEC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Diversified Energy Company PLC (NYSE:DEC) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $21.8333.

DEC has been the topic of a number of analyst reports. Wall Street Zen downgraded Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. KeyCorp lifted their price target on Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Citigroup lifted their price target on Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Weiss Ratings downgraded Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Stephens initiated coverage on Diversified Energy in a research note on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price target on the stock.

Diversified Energy Trading Down 0.5%

NYSE:DEC opened at $16.06 on Friday. The firm has a market cap of $1.16 billion, a P/E ratio of 10.93 and a beta of -0.34. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.57. The stock’s 50 day simple moving average is $15.93 and its 200-day simple moving average is $14.58. Diversified Energy has a 12-month low of $12.33 and a 12-month high of $18.90.

Diversified Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, August 28th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.2%. Diversified Energy’s payout ratio is 78.91%.

Institutional Trading of Diversified Energy

A number of institutional investors have recently modified their holdings of DEC. EIG Asset Management LLC purchased a new stake in shares of Diversified Energy in the fourth quarter valued at approximately $139,031,000. Ameriprise Financial Inc. purchased a new stake in Diversified Energy during the second quarter worth $53,894,000. Jupiter Asset Management Ltd. purchased a new stake in Diversified Energy during the fourth quarter worth $46,334,000. Man Group plc purchased a new stake in Diversified Energy during the fourth quarter worth $27,463,000. Finally, Artemis Investment Management LLP boosted its position in Diversified Energy by 114.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock worth $37,555,000 after purchasing an additional 1,384,073 shares in the last quarter. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Diversified Energy Company Profile

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.