Diversified Energy (NYSE:DEC) Sees Large Volume Increase – Here’s What Happened

Shares of Diversified Energy Company PLC (NYSE:DEC) saw unusually-strong trading volume on Thursday . Approximately 1,520,081 shares were traded during mid-day trading, an increase of 438% from the previous session’s volume of 282,635 shares.The stock last traded at $14.51 and had previously closed at $15.01.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. KeyCorp lifted their price objective on Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial lifted their price target on 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 company’s 50 day moving average is $16.36 and its 200-day moving average is $14.15.

Hedge Funds Weigh In On Diversified Energy

Large investors have recently made changes to their positions in the business. M&G PLC increased its position in Diversified Energy by 5.1% during the 3rd 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 in the last quarter. Barclays PLC grew its stake in shares of Diversified Energy by 166.9% in the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after acquiring an additional 322,986 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Diversified Energy during the third quarter valued at $1,486,000. PDT Partners LLC raised its position in shares of Diversified Energy by 231.4% in the 3rd quarter. PDT Partners LLC now owns 45,386 shares of the company’s stock worth $516,000 after purchasing an additional 31,690 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new position in shares of Diversified Energy in the 4th quarter worth about $5,979,000. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

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.