Diversified Energy (NYSE:DEC) Shares Gap Down – Time to Sell?

Diversified Energy Company PLC (NYSE:DEC)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $13.06, but opened at $12.77. Diversified Energy shares last traded at $12.80, with a volume of 24,668 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DEC. KeyCorp increased their target price on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial increased 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.

Diversified Energy Price Performance

The firm has a 50 day moving average of $14.87 and a two-hundred day moving average of $14.07.

Diversified Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 8.50%.

Institutional Trading of Diversified Energy

Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in Diversified Energy by 1.7% during the 4th quarter. Invesco Ltd. now owns 39,195 shares of the company’s stock valued at $658,000 after purchasing an additional 638 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Diversified Energy by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,748 shares of the company’s stock valued at $449,000 after purchasing an additional 934 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Diversified Energy by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 27,287 shares of the company’s stock valued at $458,000 after purchasing an additional 1,085 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Diversified Energy by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 29,267 shares of the company’s stock worth $492,000 after buying an additional 1,597 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 1,910 shares during the last quarter. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

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.