Diversified Energy (NYSE:DEC) Shares Down 4.8% – Here’s What Happened

Diversified Energy Company PLC (NYSE:DEC)’s share price fell 4.8% on Monday . The stock traded as low as $16.04 and last traded at $16.05. 91,614 shares were traded during trading, a decline of 66% from the average session volume of 266,722 shares. The stock had previously closed at $16.86.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DEC. Truist Financial increased their target price on Diversified Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, November 18th. KeyCorp began coverage on Diversified Energy in a research note on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 target price for the company.

Diversified Energy Trading Down 5.4 %

The firm has a 50-day moving average of $13.77 and a 200-day moving average of $13.62.

Diversified Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 annualized dividend and a yield of 7.27%.

Hedge Funds Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in Diversified Energy in the 2nd quarter worth approximately $1,983,000. Mraz Amerine & Associates Inc. increased its position in Diversified Energy by 1.9% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 108,279 shares of the company’s stock valued at $1,461,000 after purchasing an additional 2,044 shares during the period. Rhumbline Advisers bought a new position in Diversified Energy in the 2nd quarter worth $927,000. Jupiter Asset Management Ltd. lifted its position 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 worth $34,973,000 after purchasing an additional 1,150,794 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Diversified Energy during the 2nd quarter valued at about $189,000. 26.51% of the stock is owned by institutional investors.

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.