Diversified Energy (NYSE:DEC) Shares Gap Up – Here’s What Happened

Shares of Diversified Energy Company PLC (NYSE:DEC) gapped up before the market opened on Monday . The stock had previously closed at $15.77, but opened at $16.21. Diversified Energy shares last traded at $16.36, with a volume of 122,680 shares.

Wall Street Analysts Forecast Growth

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

Diversified Energy Trading Down 1.3 %

The stock has a fifty day moving average price of $16.21 and a 200-day moving average price of $14.08.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid 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 7.16%.

Hedge Funds Weigh In On Diversified Energy

A number of hedge funds have recently made changes to their positions in DEC. Signaturefd LLC acquired a new stake in Diversified Energy in the 3rd quarter valued at $31,000. FMR LLC acquired a new stake in shares of Diversified Energy in the third quarter valued at about $31,000. Ballentine Partners LLC purchased a new stake in shares of Diversified Energy during the 3rd quarter valued at about $143,000. XTX Topco Ltd acquired a new position in Diversified Energy during the 3rd quarter worth approximately $163,000. Finally, Quantinno Capital Management LP purchased a new position in Diversified Energy in the 3rd quarter worth approximately $167,000. 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.