Diversified Energy Company PLC (NYSE:DEC) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of Diversified Energy Company PLC (NYSE:DEC - Free Report) by 3,058.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 717,585 shares of the company's stock after acquiring an additional 694,866 shares during the period. The Manufacturers Life Insurance Company owned 1.49% of Diversified Energy worth $8,101,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. grew its position in shares of Diversified Energy by 77.5% in the second 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. Bank of New York Mellon Corp purchased a new stake in Diversified Energy in the 2nd quarter valued at about $1,983,000. Empowered Funds LLC acquired a new position in shares of Diversified Energy during the 3rd quarter valued at about $1,486,000. M&G PLC lifted its holdings in shares of Diversified Energy by 5.1% during the 3rd quarter. M&G PLC now owns 1,803,398 shares of the company's stock worth $20,523,000 after acquiring an additional 87,775 shares during the period. Finally, Rhumbline Advisers acquired a new stake in shares of Diversified Energy in the second quarter worth approximately $927,000. Institutional investors and hedge funds own 26.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DEC. Truist Financial increased their price target on shares of Diversified Energy from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. KeyCorp assumed coverage on Diversified Energy in a research note on Wednesday, August 28th. They set an "overweight" rating and a $18.00 price target for the company.

Diversified Energy Stock Down 3.0 %

NYSE DEC traded down $0.50 on Thursday, reaching $16.15. The company had a trading volume of 311,944 shares, compared to its average volume of 269,157. The firm has a 50-day moving average of $13.24 and a 200-day moving average of $13.55. Diversified Energy Company PLC has a 1 year low of $10.54 and a 1 year high of $18.05.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.18%. The ex-dividend date of this dividend is Friday, February 28th.

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.