PDT Partners LLC Purchases 31,690 Shares of Diversified Energy Company PLC (NYSE:DEC)

PDT Partners LLC raised its holdings in Diversified Energy Company PLC (NYSE:DEC) by 231.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,386 shares of the company’s stock after buying an additional 31,690 shares during the quarter. PDT Partners LLC owned 0.09% of Diversified Energy worth $516,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. M&G PLC increased its stake in Diversified Energy by 5.1% in the third quarter. M&G PLC now owns 1,803,398 shares of the company’s stock valued at $20,523,000 after acquiring an additional 87,775 shares during the period. Jupiter Asset Management Ltd. grew its stake in shares of Diversified Energy by 77.5% in 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. Empowered Funds LLC bought a new position in shares of Diversified Energy during the 3rd quarter worth approximately $1,486,000. Mackenzie Financial Corp bought a new position in shares of Diversified Energy during the 2nd quarter worth approximately $820,000. Finally, Bank of New York Mellon Corp acquired a new stake in Diversified Energy in the 2nd quarter valued at $1,983,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DEC. KeyCorp initiated coverage on Diversified Energy in a research note on Wednesday, August 28th. They set an “overweight” rating and a $18.00 price objective for the company. Truist Financial upped their target price on shares of Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, November 18th.

Diversified Energy Price Performance

Shares of DEC opened at $16.01 on Tuesday. Diversified Energy Company PLC has a one year low of $10.54 and a one year high of $18.05. The business’s 50 day simple moving average is $12.83 and its 200-day simple moving average is $13.49.

Diversified Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.16 annualized dividend and a yield of 7.25%.

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.