Diversified Energy (NYSE:DEC) Shares Gap Down – Should You Sell?

Diversified Energy Company PLC (NYSE:DEC)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $16.36, but opened at $15.88. Diversified Energy shares last traded at $15.66, with a volume of 65,433 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. KeyCorp assumed coverage on shares of Diversified Energy in a report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 price target on the stock. Truist Financial upped their target price on shares of Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, November 18th.

Diversified Energy Trading Up 4.1 %

The stock has a 50-day simple moving average of $13.03 and a two-hundred day simple moving average of $13.51.

Diversified Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.16 annualized dividend and a dividend yield of 6.97%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&G PLC lifted its position in shares of Diversified Energy by 5.1% in the 3rd quarter. M&G PLC now owns 1,803,398 shares of the company’s stock worth $20,523,000 after purchasing an additional 87,775 shares during the period. Jupiter Asset Management Ltd. raised its stake in Diversified Energy by 77.5% in the second quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock worth $34,973,000 after buying an additional 1,150,794 shares in the last quarter. Empowered Funds LLC purchased a new stake in Diversified Energy during the third quarter worth $1,486,000. PDT Partners LLC boosted its position in Diversified Energy by 231.4% during the 3rd quarter. PDT Partners LLC now owns 45,386 shares of the company’s stock valued at $516,000 after acquiring an additional 31,690 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Diversified Energy in the 2nd quarter valued at $820,000. 26.51% of the stock is currently owned by institutional investors.

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.