Legal & General Group Plc Sells 70,709 Shares of Diversified Energy Company PLC (NYSE:DEC)

Legal & General Group Plc reduced its stake in Diversified Energy Company PLC (NYSE:DEC - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 931,145 shares of the company's stock after selling 70,709 shares during the quarter. Legal & General Group Plc owned approximately 1.93% of Diversified Energy worth $15,673,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC bought a new position in shares of Diversified Energy in the third quarter worth about $31,000. Signaturefd LLC lifted its holdings in Diversified Energy by 181.8% during the fourth quarter. Signaturefd LLC now owns 7,763 shares of the company's stock valued at $130,000 after purchasing an additional 5,008 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Diversified Energy in the third quarter worth approximately $163,000. Quantinno Capital Management LP purchased a new stake in shares of Diversified Energy in the third quarter worth $167,000. Finally, Callan Family Office LLC bought a new stake in shares of Diversified Energy during the 4th quarter valued at $248,000. 26.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DEC shares. Mizuho initiated coverage on Diversified Energy in a research note on Thursday, April 10th. They issued an "outperform" rating and a $23.00 price target for the company. KeyCorp lifted their target price on Diversified Energy from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Finally, Truist Financial increased their price objective 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.

Diversified Energy Trading Down 0.0 %

Shares of DEC traded down $0.01 during midday trading on Friday, hitting $11.76. The stock had a trading volume of 407,827 shares, compared to its average volume of 354,152. The stock's 50 day moving average is $12.95 and its 200 day moving average is $14.19. Diversified Energy Company PLC has a 1 year low of $10.08 and a 1 year high of $17.70.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 9.87%. The ex-dividend date is Friday, May 30th.

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.