Truist Financial Forecasts Strong Price Appreciation for Diversified Energy (NYSE:DEC) Stock

Diversified Energy (NYSE:DEC) had its price objective lifted by Truist Financial from $21.00 to $27.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Diversified Energy Stock Down 1.7 %

NYSE:DEC opened at $16.60 on Monday. Diversified Energy has a 12 month low of $10.54 and a 12 month high of $17.70. The company has a 50-day moving average price of $15.36 and a 200-day moving average price of $13.85.

Diversified Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DEC. CWA Asset Management Group LLC purchased a new stake in Diversified Energy in the fourth quarter worth $390,000. JPMorgan Chase & Co. boosted its holdings in shares of Diversified Energy by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,159 shares of the company’s stock valued at $1,128,000 after buying an additional 23,126 shares in the last quarter. Barclays PLC grew its position in shares of Diversified Energy by 166.9% in the 3rd quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after buying an additional 322,986 shares during the period. XTX Topco Ltd bought a new position in shares of Diversified Energy in the 3rd quarter worth about $163,000. Finally, Jane Street Group LLC purchased a new position in Diversified Energy during the 3rd quarter valued at about $384,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

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.