Premier Fund Managers Ltd Makes New Investment in Diversified Energy Company PLC $DEC

Premier Fund Managers Ltd bought a new stake in Diversified Energy Company PLC (NYSE:DEC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 838,252 shares of the company’s stock, valued at approximately $12,069,000.

A number of other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. raised its stake in shares of Diversified Energy by 11.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock valued at $57,567,000 after purchasing an additional 435,222 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Diversified Energy by 114.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock valued at $37,555,000 after purchasing an additional 1,384,073 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Diversified Energy by 47.6% in the 3rd quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock valued at $33,333,000 after purchasing an additional 767,378 shares in the last quarter. Tejara Capital Ltd raised its stake in shares of Diversified Energy by 2.5% in the 3rd quarter. Tejara Capital Ltd now owns 1,952,906 shares of the company’s stock valued at $27,360,000 after purchasing an additional 47,573 shares in the last quarter. Finally, M&G PLC raised its stake in shares of Diversified Energy by 11.7% in the 3rd quarter. M&G PLC now owns 1,915,325 shares of the company’s stock valued at $26,765,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $15.34 on Thursday. Diversified Energy Company PLC has a fifty-two week low of $12.33 and a fifty-two week high of $18.90. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.73. The company has a market cap of $1.11 billion, a PE ratio of 10.44 and a beta of -0.34. The firm has a 50-day simple moving average of $15.64 and a 200 day simple moving average of $14.45.

Diversified Energy (NYSE:DEC) last posted its earnings results on Friday, February 6th. The company reported $2.28 EPS for the quarter. On average, sell-side analysts anticipate that Diversified Energy Company PLC will post 3.31 EPS for the current year.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 28th will be given a $0.29 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.16 annualized dividend and a yield of 7.6%. Diversified Energy’s dividend payout ratio is 78.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DEC shares. Weiss Ratings raised shares of Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. KeyCorp boosted their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Zacks Research raised shares of Diversified Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Finally, Truist Financial lowered their price objective on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.83.

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.