Diversified Energy (NYSE:DEC) Given New $20.00 Price Target at Truist Financial

Diversified Energy (NYSE:DEC) had its price target hoisted by Truist Financial from $18.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Diversified Energy Stock Up 2.2 %

DEC stock opened at $15.97 on Monday. The stock’s 50 day simple moving average is $14.59 and its 200 day simple moving average is $13.43. Diversified Energy has a 12-month low of $10.54 and a 12-month high of $26.00. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.48 and a quick ratio of 0.48.

Diversified Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.27%.

Institutional Investors Weigh In On Diversified Energy

A number of institutional investors have recently modified their holdings of DEC. M&G Investment Management Ltd. bought a new stake in shares of Diversified Energy in the 4th quarter worth approximately $36,507,000. M&G Plc bought a new stake in Diversified Energy in the first quarter valued at $20,639,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Diversified Energy by 838.5% during the first quarter. Jupiter Asset Management Ltd. now owns 1,484,083 shares of the company’s stock valued at $17,773,000 after acquiring an additional 1,325,948 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Diversified Energy in the 4th quarter worth about $16,390,000. Finally, UBS Group AG bought a new stake in Diversified Energy in the 4th quarter valued at about $15,871,000. Institutional investors own 26.51% of the company’s stock.

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.