Diversified Energy Company PLC (NYSE:DEC) Short Interest Down 7.8% in November

Diversified Energy Company PLC (NYSE:DEC) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 1,660,000 shares, a decline of 7.8% from the November 15th total of 1,800,000 shares. Currently, 3.7% of the company’s shares are short sold. Based on an average daily trading volume, of 271,800 shares, the days-to-cover ratio is presently 6.1 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on DEC. KeyCorp began coverage on Diversified Energy in a research report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 price objective for the company. Truist Financial upped their price objective on shares of Diversified Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, November 18th.

Institutional Investors Weigh In On Diversified Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Diversified Energy by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock valued at $1,291,000 after purchasing an additional 1,910 shares in the last quarter. Mraz Amerine & Associates Inc. raised its stake in shares of Diversified Energy by 1.9% during the second quarter. Mraz Amerine & Associates Inc. now owns 108,279 shares of the company’s stock valued at $1,461,000 after purchasing an additional 2,044 shares during the period. Signaturefd LLC acquired a new position in shares of Diversified Energy during the third quarter worth $31,000. FMR LLC purchased a new position in shares of Diversified Energy in the third quarter valued at $31,000. Finally, Brighton Jones LLC grew its holdings in Diversified Energy by 28.2% during the 2nd quarter. Brighton Jones LLC now owns 25,034 shares of the company’s stock valued at $338,000 after purchasing an additional 5,501 shares in the last quarter. 26.51% of the stock is currently owned by institutional investors and hedge funds.

Diversified Energy Stock Performance

NYSE:DEC traded down $0.29 during trading hours on Tuesday, reaching $15.66. 156,439 shares of the company were exchanged, compared to its average volume of 266,857. Diversified Energy has a 52-week low of $10.54 and a 52-week high of $18.05. The stock has a 50 day simple moving average of $13.85 and a 200 day simple moving average of $13.62.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date is Friday, February 28th.

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.