Diversified Energy (NYSE:DEC) Shares Gap Up – Time to Buy?

Diversified Energy Company PLC (NYSE:DEC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $15.94, but opened at $16.38. Diversified Energy shares last traded at $16.45, with a volume of 30,389 shares.

Analyst Upgrades and Downgrades

DEC has been the subject of several recent research reports. Truist Financial increased their price target on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a report on Monday, January 6th. KeyCorp raised their target price on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th.

Diversified Energy Stock Up 3.7 %

The firm’s 50 day moving average price is $16.23 and its two-hundred day moving average price is $14.07.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 7.02%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Signaturefd LLC acquired a new stake in shares of Diversified Energy during the third quarter valued at about $31,000. FMR LLC acquired a new stake in shares of Diversified Energy during the third quarter valued at about $31,000. Ballentine Partners LLC acquired a new stake in shares of Diversified Energy during the third quarter valued at about $143,000. XTX Topco Ltd acquired a new stake in shares of Diversified Energy during the third quarter valued at about $163,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Diversified Energy during the third quarter valued at about $167,000. Institutional investors and hedge funds 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.