Diversified Energy Company PLC (NYSE:DEC) Short Interest Down 27.8% in March

Diversified Energy Company PLC (NYSE:DEC) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 931,000 shares, a decline of 27.8% from the February 28th total of 1,290,000 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily volume of 445,600 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. KeyCorp raised their target price on shares of Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Truist Financial boosted their target price on shares of 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 Stock Performance

Diversified Energy stock traded up $0.09 during mid-day trading on Monday, reaching $13.53. The company had a trading volume of 358,866 shares, compared to its average volume of 334,127. The business has a fifty day simple moving average of $14.44 and a 200 day simple moving average of $14.21. Diversified Energy has a fifty-two week low of $10.72 and a fifty-two week high of $17.70.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 8.57%.

Institutional Trading of Diversified Energy

A number of hedge funds have recently made changes to their positions in the company. FMR LLC acquired a new position in Diversified Energy during the 3rd quarter worth about $31,000. Signaturefd LLC boosted its holdings in Diversified Energy by 181.8% in the fourth quarter. Signaturefd LLC now owns 7,763 shares of the company’s stock valued at $130,000 after acquiring an additional 5,008 shares during the last quarter. XTX Topco Ltd bought a new position in Diversified Energy during the 3rd quarter worth approximately $163,000. Quantinno Capital Management LP bought a new stake in shares of Diversified Energy in the 3rd quarter valued at $167,000. Finally, ProShare Advisors LLC bought a new stake in shares of Diversified Energy in the 4th quarter valued at $222,000. 26.51% of the stock is owned by institutional investors and hedge funds.

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.