Diversified Energy (NYSE:DEC) Shares Gap Up – What’s Next?

Shares of Diversified Energy Company PLC (NYSE:DEC) gapped up prior to trading on Tuesday . The stock had previously closed at $11.61, but opened at $11.87. Diversified Energy shares last traded at $11.90, with a volume of 58,405 shares trading hands.

Analyst Ratings Changes

A number of research firms recently weighed in on DEC. KeyCorp started coverage on shares of Diversified Energy in a report on Wednesday, August 28th. They set an “overweight” rating and a $18.00 target price on the stock. Truist Financial decreased their price target on shares of Diversified Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, September 30th.

Diversified Energy Stock Up 1.8 %

The stock’s 50 day simple moving average is $11.92 and its 200 day simple moving average is $13.51.

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 29th. This represents a $1.16 dividend on an annualized basis and a yield of 9.81%.

Hedge Funds Weigh In On Diversified Energy

A number of large investors have recently added to or reduced their stakes in DEC. Signaturefd LLC purchased a new position in shares of Diversified Energy in the third quarter worth about $31,000. Creative Planning bought a new position in Diversified Energy during the 3rd quarter worth approximately $350,000. SG Americas Securities LLC purchased a new position in Diversified Energy in the 3rd quarter worth approximately $176,000. Mackenzie Financial Corp bought a new stake in Diversified Energy in the second quarter valued at approximately $820,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Diversified Energy during the second quarter valued at approximately $305,000. Hedge funds and other 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.