Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 931,000 shares, a drop of 27.8% from the February 28th total of 1,290,000 shares. Based on an average daily trading volume, of 445,600 shares, the short-interest ratio is currently 2.1 days. Approximately 1.9% of the company’s stock are sold short.

Diversified Energy Stock Performance

DEC stock traded up $0.21 during midday trading on Tuesday, hitting $13.73. The company’s stock had a trading volume of 306,167 shares, compared to its average volume of 334,805. The firm’s 50-day moving average is $14.39 and its 200-day moving average is $14.22. Diversified Energy has a 12 month low of $10.72 and a 12 month high of $17.70.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 8.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DEC. Truist Financial lifted their price objective on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, January 6th. KeyCorp upped their price target on shares of Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th.

Hedge Funds Weigh In On Diversified Energy

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Diversified Energy by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock worth $1,291,000 after acquiring an additional 1,910 shares during the period. The Manufacturers Life Insurance Company grew its position in Diversified Energy by 3,058.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock worth $8,101,000 after purchasing an additional 694,866 shares during the period. FMR LLC purchased a new stake in Diversified Energy during the 3rd quarter valued at $31,000. MetLife Investment Management LLC lifted its holdings in shares of Diversified Energy by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 27,670 shares of the company’s stock valued at $315,000 after buying an additional 15,591 shares during the period. Finally, PDT Partners LLC boosted its stake in shares of Diversified Energy by 231.4% in the 3rd quarter. PDT Partners LLC now owns 45,386 shares of the company’s stock worth $516,000 after buying an additional 31,690 shares during the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

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.