Diversified Energy (NYSE:DEC) Shares Down 5.3% - Here's What Happened

Diversified Energy Company PLC (NYSE:DEC - Get Free Report) traded down 5.3% during trading on Friday . The company traded as low as $15.26 and last traded at $15.30. 150,835 shares traded hands during trading, a decline of 44% from the average session volume of 268,612 shares. The stock had previously closed at $16.15.

Wall Street Analyst Weigh In

DEC has been the subject of a number of recent analyst reports. KeyCorp assumed coverage on shares of Diversified Energy in a report on Wednesday, August 28th. They issued an "overweight" rating and a $18.00 price objective for the company. Truist Financial raised their target price on Diversified Energy from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, November 18th.

Diversified Energy Stock Down 5.0 %

The firm's fifty day moving average is $13.32 and its 200 day moving average is $13.55.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, February 28th. This represents a $1.16 annualized dividend and a dividend yield of 7.56%.

Institutional Investors Weigh In On Diversified Energy

Several institutional investors have recently bought and sold shares of the company. Signaturefd LLC acquired a new stake in shares of Diversified Energy in the third quarter worth approximately $31,000. FMR LLC acquired a new stake in Diversified Energy during the 3rd quarter worth $31,000. Ballentine Partners LLC purchased a new stake in shares of Diversified Energy during the third quarter worth $143,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Diversified Energy during the second quarter worth $189,000. Finally, XTX Topco Ltd acquired a new stake in shares of Diversified Energy in the third quarter valued at about $163,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.

About Diversified Energy

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.