Diversified Energy (NYSE:DEC) Trading 3.9% Higher - Should You Buy?

Diversified Energy Company PLC (NYSE:DEC - Get Free Report)'s stock price traded up 3.9% on Thursday . The company traded as high as $13.83 and last traded at $13.80. 303,598 shares changed hands during trading, a decline of 37% from the average session volume of 479,124 shares. The stock had previously closed at $13.28.

Wall Street Analyst Weigh In

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

Diversified Energy Stock Down 1.2 %

The firm's 50-day moving average price is $14.81 and its two-hundred day moving average price is $14.11.

Diversified Energy Dividend Announcement

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 paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 8.84%. The ex-dividend date of this dividend is Friday, May 30th.

Institutional Trading of Diversified Energy

A number of hedge funds have recently modified their holdings of DEC. FMR LLC purchased a new stake in Diversified Energy in the 3rd quarter worth about $31,000. Signaturefd LLC lifted its position in shares of 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 purchasing an additional 5,008 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Diversified Energy during the third quarter worth approximately $163,000. Quantinno Capital Management LP acquired a new stake in shares of Diversified Energy during the third quarter worth approximately $167,000. Finally, ProShare Advisors LLC purchased a new position in Diversified Energy during the fourth quarter valued at approximately $222,000. Hedge funds and other institutional investors 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.