Diversified Energy Company PLC (NYSE:DEC) Sees Significant Drop in Short Interest

Diversified Energy Company PLC (NYSE:DEC) was the target of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 931,000 shares, a decline of 27.8% from the February 28th total of 1,290,000 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average daily volume of 445,600 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On Diversified Energy

A number of large investors have recently modified their holdings of DEC. FMR LLC acquired a new position in Diversified Energy during the third quarter valued at approximately $31,000. Signaturefd LLC raised its stake in shares of Diversified Energy by 181.8% in the 4th quarter. Signaturefd LLC now owns 7,763 shares of the company’s stock valued at $130,000 after acquiring an additional 5,008 shares during the period. XTX Topco Ltd purchased a new stake in Diversified Energy during the 3rd quarter worth $163,000. Quantinno Capital Management LP acquired a new stake in Diversified Energy in the 3rd quarter valued at $167,000. Finally, ProShare Advisors LLC purchased a new position in Diversified Energy in the fourth quarter valued at about $222,000. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial increased their target price on Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. KeyCorp increased their price objective on shares of Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th.

Diversified Energy Stock Down 0.1 %

Shares of NYSE DEC traded down $0.01 during trading on Friday, hitting $13.41. 412,144 shares of the company traded hands, compared to its average volume of 334,028. The company has a 50-day moving average price of $14.50 and a 200-day moving average price of $14.17. Diversified Energy has a 1 year low of $10.72 and a 1 year high of $17.70.

Diversified Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 8.65%.

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.