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

Diversified Energy Company PLC (NYSE:DEC - Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 931,000 shares, a drop of 27.8% from the February 28th total of 1,290,000 shares. Based on an average trading volume of 445,600 shares, the short-interest ratio is currently 2.1 days. Approximately 1.9% of the company's shares are sold short.

Analyst Ratings Changes

A number of research firms recently weighed in on DEC. Truist Financial increased their price objective on Diversified Energy from $21.00 to $27.00 and gave the company a "buy" rating in a report on Monday, January 6th. KeyCorp raised their price target 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.

Diversified Energy Price Performance

DEC traded up $0.30 during trading on Wednesday, hitting $14.04. The company's stock had a trading volume of 259,798 shares, compared to its average volume of 335,177. The stock's fifty day moving average price is $14.39 and its 200-day moving average price is $14.22. Diversified Energy has a twelve month low of $10.72 and a twelve month high of $17.70.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.26%. The ex-dividend date of this dividend is Friday, May 30th.

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Institutional Investors Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently made changes to their positions in DEC. Vanguard Group Inc. boosted its stake in Diversified Energy by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company's stock valued at $46,319,000 after purchasing an additional 468,312 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Diversified Energy by 3,058.5% during the third quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company's stock valued at $8,101,000 after buying an additional 694,866 shares during the last quarter. State Street Corp raised its position in Diversified Energy by 42.4% in the 3rd quarter. State Street Corp now owns 552,844 shares of the company's stock valued at $6,291,000 after buying an additional 164,728 shares during the last quarter. Barclays PLC raised its position in Diversified Energy by 166.9% in the 3rd quarter. Barclays PLC now owns 516,535 shares of the company's stock valued at $5,876,000 after buying an additional 322,986 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in Diversified Energy by 112.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company's stock worth $6,463,000 after acquiring an additional 203,700 shares during the last quarter. 26.51% of the stock is owned by institutional investors.

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.