Diversified Energy (NYSE:DEC) Sees Unusually-High Trading Volume – Here’s Why

Shares of Diversified Energy Company PLC (NYSE:DEC) saw an uptick in trading volume on Thursday . 144,404 shares changed hands during trading, a decline of 46% from the previous session’s volume of 265,587 shares.The stock last traded at $16.42 and had previously closed at $16.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DEC shares. KeyCorp started coverage on shares of Diversified Energy in a report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 price objective on the stock. Truist Financial upped their price target on Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, November 18th.

Diversified Energy Price Performance

The stock’s 50 day moving average is $12.37 and its 200-day moving average is $13.42.

Diversified Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.16 annualized dividend and a dividend yield of 7.32%.

Institutional Investors Weigh In On Diversified Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC bought a new position in Diversified Energy in the 3rd quarter valued at approximately $31,000. FMR LLC purchased a new position in shares of Diversified Energy in the third quarter worth $31,000. Virtu Financial LLC purchased a new position in shares of Diversified Energy in the first quarter worth $136,000. Ballentine Partners LLC bought a new position in shares of Diversified Energy during the third quarter valued at $143,000. Finally, XTX Topco Ltd purchased a new stake in shares of Diversified Energy during the third quarter valued at $163,000. 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.