Diversified Energy (NYSE:DEC) Shares Gap Down - What's Next?

Diversified Energy Company PLC (NYSE:DEC - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $13.06, but opened at $12.77. Diversified Energy shares last traded at $12.80, with a volume of 24,668 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DEC shares. KeyCorp boosted their price target on Diversified Energy from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Truist Financial raised their target price on Diversified Energy from $21.00 to $27.00 and gave the stock a "buy" rating in a research report on Monday, January 6th.

Diversified Energy Stock Down 3.1 %

The stock has a fifty day moving average price of $14.81 and a 200-day moving average price of $14.11.

Diversified Energy Announces Dividend

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

Institutional Trading of Diversified Energy

Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Diversified Energy by 3,058.5% in 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. Vanguard Group Inc. increased its position in Diversified Energy by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company's stock valued at $46,319,000 after acquiring an additional 468,312 shares in the last quarter. Woodline Partners LP acquired a new stake in Diversified Energy in the 4th quarter valued at about $6,274,000. Artemis Investment Management LLP bought a new position in shares of Diversified Energy in the fourth quarter worth about $5,979,000. Finally, Barclays PLC lifted its position in shares of Diversified Energy by 166.9% during the third quarter. Barclays PLC now owns 516,535 shares of the company's stock worth $5,876,000 after purchasing an additional 322,986 shares in the last quarter. Institutional investors and hedge funds own 26.51% of the company's stock.

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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.