Diversified Energy (NYSE:DEC) Shares Gap Down – Here’s What Happened

Shares of Diversified Energy Company PLC (NYSE:DEC) gapped down before the market opened on Friday . The stock had previously closed at $16.19, but opened at $15.84. Diversified Energy shares last traded at $15.76, with a volume of 37,307 shares.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial increased their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 6th. KeyCorp boosted their target price on Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th.

Diversified Energy Stock Down 1.6 %

The business’s 50 day simple moving average is $16.16 and its 200 day simple moving average is $14.07.

Diversified Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.29 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.16 annualized dividend and a dividend yield of 7.28%.

Hedge Funds Weigh In On Diversified Energy

Several institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Diversified Energy during the second quarter worth about $189,000. Hsbc Holdings PLC purchased a new position in shares of Diversified Energy during the 2nd quarter worth approximately $219,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Diversified Energy in the 2nd quarter valued at approximately $305,000. Mackenzie Financial Corp purchased a new stake in shares of Diversified Energy in the second quarter valued at approximately $820,000. Finally, SG Americas Securities LLC purchased a new position in Diversified Energy in the third quarter worth $176,000. 26.51% of the stock is owned by institutional investors and hedge funds.

About Diversified Energy

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.