Diversified Energy (NYSE:DEC) Trading Up 3.5% - Time to Buy?

Diversified Energy Company PLC (NYSE:DEC - Get Free Report) traded up 3.5% during trading on Monday . The company traded as high as $16.50 and last traded at $16.49. 87,553 shares were traded during trading, a decline of 67% from the average session volume of 264,129 shares. The stock had previously closed at $15.93.

Analysts Set New Price Targets

Separately, Truist Financial increased their target price on Diversified Energy from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, November 18th.

Diversified Energy Stock Up 5.0 %

The business's fifty day moving average is $14.65 and its two-hundred day moving average is $13.70.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.94%.

Hedge Funds Weigh In On Diversified Energy

Several large investors have recently made changes to their positions in the company. Jupiter Asset Management Ltd. lifted its position in Diversified Energy by 77.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company's stock valued at $34,973,000 after purchasing an additional 1,150,794 shares during the period. M&G PLC raised its stake in shares of Diversified Energy by 5.1% during the third quarter. M&G PLC now owns 1,803,398 shares of the company's stock worth $20,523,000 after buying an additional 87,775 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 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 period. State Street Corp boosted its stake in Diversified Energy by 42.4% in the third quarter. State Street Corp now owns 552,844 shares of the company's stock valued at $6,291,000 after acquiring an additional 164,728 shares during the last quarter. Finally, Barclays PLC grew its holdings in Diversified Energy by 166.9% during the 3rd quarter. Barclays PLC now owns 516,535 shares of the company's stock worth $5,876,000 after acquiring an additional 322,986 shares during the period. Institutional investors and hedge funds 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.