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

Diversified Energy Company PLC (NYSE:DEC)’s stock 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 traded.

Analysts Set New Price Targets

DEC has been the topic of a number of research analyst reports. Truist Financial boosted 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 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.

Diversified Energy Stock Performance

The stock has a 50 day simple moving average of $16.25 and a 200 day simple moving average of $14.08.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.29 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a yield of 6.92%.

Institutional Inflows and Outflows

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