Diversified Energy (NYSE:DEC) Given New $19.00 Price Target at Truist Financial

Diversified Energy (NYSE:DEC) had its price target lowered by Truist Financial from $20.00 to $19.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 63.09% from the stock’s current price.

Separately, KeyCorp began coverage on shares of Diversified Energy in a research note on Wednesday, August 28th. They set an “overweight” rating and a $18.00 price objective on the stock.

Diversified Energy Trading Up 2.4 %

DEC opened at $11.65 on Monday. Diversified Energy has a twelve month low of $10.54 and a twelve month high of $20.00. The firm’s 50-day simple moving average is $12.81 and its 200-day simple moving average is $13.51. The company has a quick ratio of 0.48, a current ratio of 0.44 and a debt-to-equity ratio of 2.69.

Institutional Investors Weigh In On Diversified Energy

A number of hedge funds have recently added to or reduced their stakes in DEC. Jupiter Asset Management Ltd. boosted its position in Diversified Energy by 77.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after buying an additional 1,150,794 shares during the last quarter. M&G Plc bought a new stake in Diversified Energy during the 1st quarter worth about $20,639,000. Bank of New York Mellon Corp acquired a new position in Diversified Energy during the 2nd quarter valued at about $1,983,000. Rhumbline Advisers bought a new position in shares of Diversified Energy in the 2nd quarter valued at about $927,000. Finally, Susquehanna International Securities Ltd. acquired a new stake in shares of Diversified Energy during the 1st quarter worth approximately $131,000. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Company Profile

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.