Short Interest in Diversified Energy Company PLC (NYSE:DEC) Drops By 6.9%

Diversified Energy Company PLC (NYSE:DEC) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totalling 986,800 shares, a drop of 6.9% from the May 31st total of 1,060,000 shares. Based on an average daily volume of 203,400 shares, the short-interest ratio is currently 4.9 days. Approximately 2.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Truist Financial began coverage on Diversified Energy in a research report on Tuesday, June 25th. They set a “buy” rating and a $18.00 target price on the stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Diversified Energy during the 1st quarter worth approximately $136,000. Jupiter Asset Management Ltd. raised its stake in shares of Diversified Energy by 838.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,484,083 shares of the company’s stock valued at $17,773,000 after buying an additional 1,325,948 shares during the last quarter. M&G Plc acquired a new position in Diversified Energy in the first quarter valued at approximately $20,639,000. Monaco Asset Management SAM acquired a new stake in shares of Diversified Energy during the 1st quarter worth approximately $433,000. Finally, Susquehanna International Securities Ltd. acquired a new position in shares of Diversified Energy in the 1st quarter valued at $131,000. 26.51% of the stock is owned by institutional investors and hedge funds.

Diversified Energy Price Performance

DEC traded down $0.14 during trading on Wednesday, hitting $13.99. The stock had a trading volume of 233,228 shares, compared to its average volume of 254,961. The business’s 50 day simple moving average is $14.09. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.83. Diversified Energy has a twelve month low of $10.54 and a twelve month high of $26.00.

Diversified Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.29%.

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.