Diversified Energy (NYSE:DEC) Trading Down 4.8% – Here’s What Happened

Diversified Energy Company PLC (NYSE:DEC)’s stock price fell 4.8% during trading on Monday . The company traded as low as $16.04 and last traded at $16.05. 91,614 shares were traded during trading, a decline of 66% from the average session volume of 266,722 shares. The stock had previously closed at $16.86.

Analysts Set New Price Targets

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

Diversified Energy Price Performance

The stock has a fifty day moving average price of $13.93 and a 200-day moving average price of $13.62.

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 7.67%. The ex-dividend date is Friday, February 28th.

Hedge Funds Weigh In On Diversified Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Diversified Energy by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock worth $1,291,000 after purchasing an additional 1,910 shares in the last quarter. Mraz Amerine & Associates Inc. grew 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 worth $1,461,000 after acquiring an additional 2,044 shares during the last quarter. Signaturefd LLC acquired a new position in shares of Diversified Energy during the third quarter valued at about $31,000. FMR LLC acquired a new stake in Diversified Energy in the 3rd quarter worth approximately $31,000. Finally, Brighton Jones LLC grew its position in Diversified Energy by 28.2% during the 2nd quarter. Brighton Jones LLC now owns 25,034 shares of the company’s stock worth $338,000 after purchasing an additional 5,501 shares during the last quarter. 26.51% of the stock is owned by hedge funds and other institutional investors.

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.