Short Interest in Diversified Energy Company PLC (NYSE:DEC) Rises By 20.6%

Diversified Energy Company PLC (NYSE:DEC - Get Free Report) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,290,000 shares, a growth of 20.6% from the February 13th total of 1,070,000 shares. Based on an average daily trading volume, of 397,300 shares, the short-interest ratio is presently 3.2 days. Currently, 2.7% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DEC. Truist Financial increased their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the company a "buy" rating in a report on Monday, January 6th. KeyCorp increased their target price on shares of Diversified Energy from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th.

Diversified Energy Stock Performance

Shares of DEC stock traded down $0.42 on Friday, hitting $13.24. The stock had a trading volume of 460,831 shares, compared to its average volume of 327,836. The business has a 50 day moving average of $14.81 and a 200 day moving average of $14.09. Diversified Energy has a 12-month low of $10.72 and a 12-month high of $17.70.

Diversified Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 8.76%. The ex-dividend date of this dividend is Friday, May 30th.

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Institutional Trading of Diversified Energy

Several hedge funds have recently added to or reduced their stakes in DEC. FMR LLC bought a new stake in Diversified Energy in the third quarter worth about $31,000. Signaturefd LLC raised its position in Diversified Energy by 181.8% in the fourth quarter. Signaturefd LLC now owns 7,763 shares of the company's stock worth $130,000 after acquiring an additional 5,008 shares during the period. XTX Topco Ltd bought a new stake in shares of Diversified Energy in the third quarter valued at approximately $163,000. Quantinno Capital Management LP bought a new stake in shares of Diversified Energy in the third quarter valued at approximately $167,000. Finally, ProShare Advisors LLC bought a new stake in shares of Diversified Energy in the fourth quarter valued at approximately $222,000. Institutional investors own 26.51% of the company's stock.

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.