Diversified Energy (NYSE:DEC) Shares Gap Up – Time to Buy?

Diversified Energy Company PLC (NYSE:DEC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $15.77, but opened at $16.21. Diversified Energy shares last traded at $16.36, with a volume of 122,680 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DEC shares. KeyCorp increased their price objective on shares of Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Truist Financial increased their price target 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.

Diversified Energy Price Performance

The stock has a fifty day moving average price of $16.21 and a two-hundred day moving average price of $14.08.

Diversified Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.16%. The ex-dividend date is Friday, February 28th.

Institutional Investors Weigh In On Diversified Energy

Hedge funds have recently modified their holdings of the company. M&G PLC lifted its stake in shares of Diversified Energy by 5.1% during the third quarter. M&G PLC now owns 1,803,398 shares of the company’s stock valued at $20,523,000 after buying an additional 87,775 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Diversified Energy by 3,058.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock valued at $8,101,000 after acquiring an additional 694,866 shares during the last quarter. State Street Corp lifted its stake in shares of Diversified Energy by 42.4% during the 3rd quarter. State Street Corp now owns 552,844 shares of the company’s stock worth $6,291,000 after purchasing an additional 164,728 shares during the period. Barclays PLC boosted its holdings in shares of Diversified Energy by 166.9% during the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after purchasing an additional 322,986 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of Diversified Energy in the fourth quarter valued at $5,979,000. 26.51% of the stock is owned by institutional investors and hedge funds.

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.