First Trust Advisors LP Invests $10.55 Million in Diversified Energy Company PLC $DEC

First Trust Advisors LP purchased a new stake in shares of Diversified Energy Company PLC (NYSE:DEC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 604,692 shares of the company’s stock, valued at approximately $10,546,000.

Several other large investors have also recently modified their holdings of DEC. Quarry LP grew its position in Diversified Energy by 1,595.2% during the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after purchasing an additional 1,994 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Diversified Energy during the 4th quarter valued at about $32,000. Ensign Peak Advisors Inc purchased a new position in Diversified Energy in the fourth quarter worth about $35,000. Tower Research Capital LLC TRC raised its holdings in Diversified Energy by 261.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock worth $74,000 after buying an additional 3,666 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Diversified Energy in the fourth quarter worth approximately $111,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DEC shares. Zacks Research cut shares of Diversified Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Truist Financial decreased their price objective on shares of Diversified Energy from $20.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Stephens started coverage on Diversified Energy in a research report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price objective on the stock. Weiss Ratings downgraded Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group raised Diversified Energy to a “hold” rating in a report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.17.

Diversified Energy Stock Up 3.0%

DEC opened at $13.45 on Friday. The firm’s 50 day simple moving average is $13.62 and its two-hundred day simple moving average is $14.41. The company has a market capitalization of $972.92 million, a PE ratio of 3.82 and a beta of -0.40. Diversified Energy Company PLC has a 1-year low of $12.33 and a 1-year high of $18.90. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.57.

Diversified Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, August 28th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Friday, August 28th. Diversified Energy’s dividend payout ratio is 32.95%.

About Diversified Energy

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.