Diversified Energy (NYSE:DEC) Trading 3.9% Higher – Here’s What Happened

Diversified Energy Company PLC (NYSE:DEC) shares rose 3.9% during mid-day trading on Thursday . The stock traded as high as $13.83 and last traded at $13.80. Approximately 303,598 shares changed hands during trading, a decline of 37% from the average daily volume of 479,124 shares. The stock had previously closed at $13.28.

Analyst Ratings Changes

Several brokerages have recently issued reports on DEC. Truist Financial boosted their price objective on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a report on Monday, January 6th. KeyCorp increased their target price on Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th.

Diversified Energy Trading Down 3.1 %

The firm’s 50-day moving average price is $14.81 and its two-hundred day moving average price is $14.07.

Diversified Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.76%. The ex-dividend date of this dividend is Friday, May 30th.

Institutional Trading of Diversified Energy

A number of hedge funds have recently made changes to their positions in DEC. Mackenzie Financial Corp boosted its stake in shares of Diversified Energy by 11.7% during the 4th quarter. Mackenzie Financial Corp now owns 100,797 shares of the company’s stock valued at $1,693,000 after buying an additional 10,594 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Diversified Energy in the 4th quarter worth approximately $6,274,000. Thomist Capital Management LP acquired a new stake in shares of Diversified Energy during the 4th quarter valued at approximately $547,000. ProShare Advisors LLC bought a new position in Diversified Energy during the fourth quarter worth $222,000. Finally, Quantinno Capital Management LP boosted its holdings in Diversified Energy by 197.4% in the fourth quarter. Quantinno Capital Management LP now owns 43,815 shares of the company’s stock worth $736,000 after purchasing an additional 29,084 shares during the period. Hedge funds and other institutional investors own 26.51% of the company’s stock.

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.