Diversified Energy (NYSE:DEC) Sees Strong Trading Volume

Diversified Energy Company PLC (NYSE:DEC) saw an uptick in trading volume on Thursday . 120,616 shares were traded during trading, a decline of 55% from the previous session’s volume of 268,664 shares.The stock last traded at $10.90 and had previously closed at $10.98.

Analyst Ratings Changes

DEC has been the subject of several research analyst reports. Truist Financial raised their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. KeyCorp initiated coverage on shares of Diversified Energy in a report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 price objective for the company.

Diversified Energy Stock Up 2.4 %

The company has a debt-to-equity ratio of 2.69, a current ratio of 0.44 and a quick ratio of 0.48. The business’s 50-day simple moving average is $13.85 and its 200 day simple moving average is $13.55.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 10.19%. The ex-dividend date of this dividend is Friday, November 29th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. M&G Plc purchased a new stake in Diversified Energy in the 1st quarter worth $20,639,000. Jupiter Asset Management Ltd. lifted its stake in Diversified Energy by 838.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,484,083 shares of the company’s stock worth $17,773,000 after purchasing an additional 1,325,948 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Diversified Energy in the 4th quarter worth $16,390,000. UBS Group AG purchased a new stake in Diversified Energy in the 4th quarter worth $15,871,000. Finally, Rathbones Group PLC purchased a new stake in Diversified Energy in the 4th quarter worth $11,603,000. Hedge funds and other 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.